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1. In 2Q 2021, non-resident employment declined more sharply, and resident employment grew more slowly. As a result, total employment declined in 2Q 2021, after registering its first increase in five quarters in 1Q 2021.
2. Unemployment rates continued to ease in June 2021, and the resident long-term unemployment rate improved. However, unemployment rates rose in July. The increase, following a consistent downtrend over the past eight months, reflects a temporary easing of manpower demand in certain sectors due to the tighter COVID-19 restrictions.
3. There was a slight increase in retrenchments in 2Q 2021, and the re-entry rate among retrenched residents dipped after rising in the previous two quarters.
4. The tighter COVID-19 restrictions have temporarily affected demand for manpower in certain sectors. More employees were placed on temporary layoff or short work-week, particularly in Food & Beverage Services.
5. With manpower shortages that arose from border restrictions and sustained demand in growth sectors, the ratio of job vacancies to unemployed persons improved to above 1 for the first time since March 2019.
Corrigendum Notice: The report has been updated with minor revisions to the 2Q 2021 figures on incidence of retrenchment among residents. The revisions did not result in changes on the analysis.
This edition also carries a technical note on Labour Market Data by Occupation. In this article, we explain how Singapore classifies workers by occupation, which is aligned to the principles of the
International Classification of Occupations developed by the International Labour Organisation. It also details how the occupational classification relates to the skills level, and how occupational data is used.
For more key findings, please refer to the
executive summary of the report.
Released on: 15 September 2021