Singapore’s labour market still positive amid weaker growth forecast: MOM

Even as Singapore’s economy is expected to record slower growth in 2019, the labour market has remained positive in the first half of the year, according to the Ministry of Manpower.

In particular, local employment expanded by 5,300 people during the period, albeit slower than the growth of 6,500 recorded in 1HFY2018.

Foreign employment excluding foreign domestic workers (FDWs) also increased, by 11,600, driven by growth in services and a turnaround in construction.

By pass type, foreign employment growth was driven by work permit and other work passes holders (6,200), and employment pass holders (3,200).

Overall, total employment excluding FDWs grew by 16,900 during the period — faster than the growth of 6,900 recorded in 1HFY2018, though lower than the 31,400 registered in 1HFY2017.

According to MOM, employment growth remained “robust” across sectors such as community, social and personal services, professional services, financial and insurance services, and information and communications.

“Job opportunities in these sectors will continue to provide support to the labour market,” the ministry says in a statement on Sept 12. — By Jeffrey Tan