Employment in Singapore falls by record 103,500 in Q2

Singapore

EMPLOYMENT fell by a record 103,500 in the second quarter of the year, a staggering four times the previous record contraction - in the first quarter - of 25,600, according to the Singapore Ministry of Manpower's Labour Market Report on Monday.

But other major indicators such as retrenchments and unemployment stayed below past peaks, as firms took cost-saving measures for an unprecedented number of workers.