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Report: Labour Market Second Quarter 2022
Released on:14/9/2022 10:30 AM

​​​​​​​​​​​​​​​​Report: ​Labour Market First Quarter 2022
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KEY INSIGHTS

The labour market displayed steady improvement in 2Q 2022.

  1. Resident employment continued to rise at a steady pace, and was 4.2% above the pre-pandemic level in June 2022. Non-resident employment increased significantly following the relaxation of border restrictions in April 2022, but remained 10% below the pre-pandemic level.
  2. Unemployment rates remained low, and the resident long-term unemployment rate improved to the pre-pandemic average.
  3. Retrenchments fell to a record low and fewer employees were placed on a short work-week or temporary layoff.
  4. As firms filled more positions, job vacancies eased slightly.

This edition also carries a technical note on “The Importance of Industry Classification for Labour Market Data”. In this article, we explain how Singapore compiles labour market data by industry based on the Singapore Standard Industrial Classification, which is a standard taxonomy that defines industries based on their economic activities. It also details how the taxonomy can be used to interpret labour market data, and why it is updated regularly.

For more key findings, please refer to the execut​i​ve su​mmar​y of the report.​​


Released on: 14 September ​2022

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