Layoffs double in Q2; total employment dives by quarterly record of 122,000
Actual numbers likely to be bigger; worst not over, say Manpower Minister Josephine Teo, economists
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Singapore
SINGAPORE'S total employment saw its worst quarterly contraction on record in the second quarter of 2020, according to preliminary data, and economists fear the worst is yet to come.
The total number of people working between April and June shrank by 121,800, almost five times the 25,700 seen in Q1, according to the Ministry of Manpower (MOM) on Wednesday. The contraction in employment in Q2 was broad-based across the manufacturing, services and construction sectors.
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