Employment in Q2 recovers to near pre-pandemic levels, but MOM warns of uncertainty ahead

The labour market continued to improve in the second quarter of 2022, with total employment reaching 99.5 per cent of the level in December 2019, before the COVID-19 pandemic, said the Ministry of Manpower's (MOM) Labour Market Report on Wednesday (Sep 14).
 

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Resident employment grew to 4.2 per cent above the pre-pandemic level in June. While non-resident employment remained 10 per cent below the pre-pandemic level, it increased significantly from the first quarter of the year following the relaxation of border restrictions.
 

However, the external demand outlook has weakened, given the economic slowdown. Global headwinds, such as the war in Ukraine, inflationary pressures, geopolitical tensions in the region, and the trajectory of the COVID-19 pandemic, mean that the labour market outlook is uneven across sectors, said MOM.
 

"The labour market continued to make significant improvements in 2Q 2022 as Singapore recovers from the effects of the COVID-19 pandemic; however, there is heightened economic uncertainty ahead," said the ministry.
 

MOM permanent secretary Ng Chee Khern said that the job market remains tight but there are early signs of easing as recruitment has picked up.
 

"Amidst this uncertainty, we do need to press on with economic transformation and to enhance our businesses' and workers' resilience to shocks," said Mr Ng.