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Report: Labour Market Advance Release Third Quarter 2020
Released on:30/10/2020 2:00 PM

​Report: Labour Market Advance Release Third Quarter 2020

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

KEY INSIGHTS

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.

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





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