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Total employment in Singapore grows 9,700 to 3.63m workers in Q2: MOM
SINGAPORE'S total employment in the second quarter of 2015 grew by 9,700 workers, after a contraction of 6,100 in the previous quarter. This brought total employment to 3,627,500 in June 2015, 2.2 per cent higher than a year ago. This year-on-year growth in total employment was 2.7 per cent in March 2015.
In its latest labour market report, the Ministry of Manpower (MOM) said that Singapore's total employment for the first half of 2015 fell by 1,000. This figure, which excludes foreign domestic workers (FDWs), is a large decline from the growth of 52,200 in the first half of 2014.
Local employment declined by 8,900 in the first half of 2015. This largely reflected the exit of young casual workers from the workforce after the entry of a large number of them in the second half of 2014. There was also continued growth in the employment of older local workers, said MOM.
Foreign employment growth moderated to 8,000, excluding FDWs, in the first half of 2015, registering the lowest half-yearly growth since 2009. The services sector accounted for most of the growth, with work-permit holders making up the largest proportion of the growth.
MOM said the moderation in total employment growth took place amid slower economic growth. The Singapore economy grew by 2.3 per cent year-on-year in the first half of 2015, slower than the 3.4 per cent in the same period last year.