Advance estimates show that in 4Q 2022, total employment expanded for the fifth consecutive quarter, and unemployment remained low in December 2022. While the number of retrenchments rose from previous quarters' lows, it remained comparable to its pre-pandemic range.

For the whole of 2022, the labour market significantly compared to 2021. The unemployment situation is at its pre-pandemic steady state, and total and resident employment levels rose. The number of retrenchments stayed low, despite the last quarter's rise.