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Report: Labour Market Advance Release First Quarter 2020

This release provides preliminary estimates of key indicators on the manpower situation covering unemployment, employment and retrenchment for the latest quarter.

Key findings: Preliminary indicators showed that the labour market has felt the early effects of COVID-19. In 1Q 2020, total employment (excluding foreign domestic workers) registered its sharpest quarterly contraction since SARS, due to a significant contraction in foreign employment. Unemployment rates rose in March 2020 but remained lower than the peak during SARS. Similarly, retrenchments also rose in 1Q 2020, but were about one-quarter that of the quarterly peak seen in the Global Financial Crisis.

For more key findings, please refer to the highlights of the report.

Last updated on 15 June 2020 11:00:10
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