About half of Singapore companies are still looking to hire more staff: Report

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In addition to rising vacancies, the retrenchment rate has shown a positive trend, declining from 3,460 in the previous quarter to 3,030 in Q1 2024

SINGAPORE: Singapore’s labour market is expected to remain tight as demand for talent continues to surge alongside an improving economic climate.

Data from the Ministry of Manpower supports this outlook, showing a notable increase in the share of companies planning to hire more workers in the upcoming quarter. The total number of job vacancies continued to climb for the second consecutive quarter, further underscoring the strong demand for talent.

Employment figures across Singapore also showed growth, with the total number of employed individuals increasing by 4,700 in the first quarter.

 

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