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Singapore's total employment falls to an all-time low in 2Q2020; retrenchments double

Amala Balakrishner
Amala Balakrishner9/14/2020 03:41 PM GMT+08  • 5 min read
Singapore's total employment falls to an all-time low in 2Q2020; retrenchments double
Softness in the labour market is likely to persist with continued weakness in hiring and pressure on companies to retrench: MOM
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With Singapore’s economy contracting by a historic 13.2% in 2Q2020 ended June, it is no surprise that the labour market has been under the weather.

Total employment excluding foreign domestic workers (FDWs) plunged by 103,500 in June, making this the metric’s sharpest decline on record. The data was revealed in the Ministry of Manpower’s (MOM) Labour Market Report released on September 14.

The greatest falls in employment were seen across sectors such as food and beverage services (-22,900), construction (-13,600), retail trade (-8,000), arts, entertainment and recreation (-7,600), and administrative and support services (-7,600), which were among the hardest hit by the circuit breaker measures.

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