Singapore Sees Labor Market Cooling Some More in Coming Quarters
- Firms intending to hire in next three months slipped to 58.2%
- Jobs growth in 2Q mostly from non-residents in construction
This article is for subscribers only.
Singapore’s labor market, which expanded at the slowest pace in seven quarters, is expected to cool further as companies appear to be more cautious on hiring and giving pay hikes, according to the manpower ministry.
The economy added 23,700 jobs in the second quarter, down from the 33,000 in the first three months of 2023, according to from the Ministry of Manpower on Thursday, in signs that demand continues to ease amid headwinds in the global economy.