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Economists see uneven employment growth in Singapore in 2023

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Tessa Oh

Tessa Oh

Published Tue, Jan 31, 2023 · 06:19 PM
    • While the manufacturing sector appears more downcast, there are still pockets of growth segments which will be hiring, said OCBC chief economist Selena Ling.
    • While the manufacturing sector appears more downcast, there are still pockets of growth segments which will be hiring, said OCBC chief economist Selena Ling. PHOTO: BT FILE

    SINGAPORE’S employment growth is expected to become more uneven in 2023, after expanding at a record level last year on the back of a rebound in the hiring of foreign workers.

    Total employment grew by an unprecedented 231,700 in 2022, according to a preliminary report from the Ministry of Manpower (MOM) on Tuesday (Jan 31). The increase was driven mainly by a growth in non-resident employment in the construction and manufacturing sectors, which are typically more reliant on foreign manpower.

    Resident employment also grew in 2022, but at a slower pace than the year before. Growth was observed across most sectors, and particularly in outward-facing sectors such as financial services; information and communications; and community, social and personal services.

    Singapore manpowerSingapore economyUnemployment

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