​​​​​​​​​​​​​​​​​​Advance estimates point to a generally positive and hiring labour market in 1Q 2022. Total employment continued to expand, with non-resident employment forming the bulk of the expansion due to an increase in work permit holders in the Construction sector as border controls ease. Resident employment continued to see steady growth in outward-oriented sectors. The unemployment situation held steady at pre-COVID levels, and retrenchments declined to a record low. In the coming months, as economic recovery continues to drive demand for workers, we expect unemployment rates to stay low, and employment to continue to grow.​

For more information, please refer to the full Labour Market Advance Release First ​Quarter 2022​ report.