Advance estimates suggest nascent signs of an uptick in labour market activity in 3Q 2020, in line with the phased re-opening of the economy. Total employment continued to contract, though at a significantly slower pace as compared to the past quarter. The decline was due to a continued fall in non-resident employment, as resident employment grew. While unemployment rates continued to rise in September 2020, the pace of increase has slowed. Retrenchments were slightly higher in 3Q 2020.
For more information, please refer to the full Labour Market Advance Release Third Quarter 2020 report.
Released on: 30 October 2020
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Release: 30 Oct 2020
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