Labour Market To Stay Tight This Year
More jobs were created in the April-to-June quarter. The economy gained 33,700 more jobs during the second quarter, up from 28,900 in the first three months. This is despite the unemployment rate – at 1.8 per cent last December – having climbed from 1.9 per cent in March to a seasonally adjusted 2.1 per cent in June. The job growth brought total employment to 3,420,200 in June, up 4 per cent from a year ago, said the Labour Market report for the second quarter released by the Ministry of Manpower (MOM).
The labour market is likely to stay tight for the rest of the year, as the government continues reducing the inflow of foreign workers and pushes for higher productivity.