Advance estimates indicate an expanding labour market in 3Q 2024, with growth in both resident and non-resident employment, alongside low levels of unemployment and retrenchments. Forward-looking polls showed a decline in hiring and wage expectations for 4Q 2024, reflecting ongoing uncertainty in export-oriented sectors. However, we expect employment to continue increasing in the next quarter, with the labour market remaining tight, supported by anticipated year-end hiring for the festive season.

For more information, please refer to the full Labour Market Advance Release Third Quarter 2024​ ​report.​