Labour Market 2023

Labour market

Retrenchments increase in 3Q2023; economic headwinds to continue weighing on labour market: MOM

Re-entry into employment among retrenched residents improved to 65.3% in the 3Q2023 while unemployment rates remained low at 1.9%.

Labour market

Singapore real income falls 2.3% this year as inflation lingers

Economic headwinds are expected to continue to weigh on the job market going forward said an MOM report.

Singapore economy

Labour market could ease in 2023 after tightness last year: Analysts

Unemployment rates could trend higher in 2023 with an uptick in retrenchments but is expected to remain within pre-Covid levels.
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