Report: Labour Market Advance Release 2020

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Report: Labour Market Advance Release 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 showed a broad improvement in the labour market in 4Q 2020. Resident employment rose for the second consecutive quarter in 2020. As a result, for the full year, resident employment continued to expand amidst the pandemic. Unemployment rates fell for the second month in December 2020 while retrenchments declined for the first time in six quarters. However, after increases in the workforce size over the years, the incidence of retrenchment in 2020 remained significantly lower compared to past recessionary years.

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

For data pertaining to income of Singapore Citizens, you may refer to the Statistical Tables for Income