Final data confirmed that employers are retaining their existing workers despite economic headwinds. Retrenchments were lower than the previous quarter, and total employment continued to increase.
At the same time, hiring sentiments have turned cautious. The number of job vacancies declined for the second consecutive quarter. The re-entry rates among retrenched residents declined. As the resident unemployment rate inched up, there were fewer job vacancies than unemployed persons for the first time since December 2017.
For more information, please refer to the full Labour Market Second Quarter 2019 report.
Released on: 12 September 2019
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