​​Report: ​Labour Market Second Quarter 2019

This quarterly release analyses the labour market situation. Topics covered include unemployment, employment, retrenchment, re-entry into employment, job vacancy, labour turnover and hours worked.

Key Findings: Final data confirmed that employers are retaining their existing workers despite economic headwinds. Retrenchments were lower than the previous quarter, and total employment continued to increase.

At the same time, hiring sentiments have turned cautious. The number of job vacancies declined for the second consecutive quarter. The re-entry rates among retrenched residents declined. As the resident unemployment rate inched up, there were fewer job vacancies than unemployed persons for the first time since December 2017.

This edition also features a technical note on short work-week and temporary layoff. The number of employees placed on short work-week or temporary layoff is usually read as an indication of economic slowdown. These temporary arrangements are viewed as better alternatives to retrenchments, as they do not completely take away employee benefits, and serve as an indication of the company’s commitment to its employees.

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