On or about 30 July 2021, the Ministry of Manpower (MOM) has released Report on Labour Market Advance Release Second Quarter 2021.
As the slower pace of resident employment growth was outweighed by the sharper declines in non-resident employment, total employment declined in 2Q 2021. The unemployment and retrenchment indicators did not show up much impact from the tightened measures of Phase 2 (Heightened Alert) measures from 16 May to 13 June 2021.
The modest increase for resident employment was outpaced by the continued drop in non-resident employment, whereby total employment (excluding migrant domestic workers) fell in the second quarter (-15,700). The slower resident employment growth was due to declines in domestically-oriented sectors which are directly impacted by the tighter safe management measures, such as Food & Beverages Services and Retail Trade. However, resident employment continued to grow steadily in outward-oriented sectors such as Information & Communications and Professional Services, as well as in Community, Social & Personal Services. Non-resident employment declined as departing workers were not replaced due to border restrictions imposed for public health reasons.
Unemployment rates continued to drop from 2.8% to 2.7% for overall and for residents from 3.8% to 3.7%. Retrenchments increased slightly from 2,270 in the first quarter to 2,500.
The SGUnited Jobs and Skills Package, the Government and tripartite partners will continue to support local job seekers who are keen to embark on new opportunities. Employers can benefit from programs such as the Support for Job Redesign under the Productivity Solutions Grant. Funding support is increased to 80% of qualifying costs, capped at $30,000 per enterprise, till end-March 2022.
Source: Ministry of Manpower website, accessed 2 August 2021