SINGAPORE (Mar 14): Professionals, managers, executives and technicians (PMETs) accounted for a staggering 79.3% of retrenched residents in 4Q18, according to a labour market report released by the Ministry of Manpower (MOM) on Thursday.

This brings the total figure for retrenched local PMETs -- comprising Singaporeans and permanent residents -- to 75.8% of all retrenchments for 2018, the highest level since such data was first published by MOM in 2006.

Some 58% of retrenched residents had degrees, while 19.9% held diplomas. The bulk of the individuals who were retrenched in 4Q18 were aged 40 to 49 (34%) and 50 and over (33.6%).

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