Overall improvement in labour market in 2018, but trends mixed towards end of year: MOM

SINGAPORE: The labour market improved in 2018, with local hires driving total employment growth for the year, according to a Ministry of Manpower report released on Thursday ,Annual average unemployment and long-term unemployment rates were lower than a year ago and retrenchments were significantly fewer.

This was due to stronger growth in the services sector and the moderating decline in the construction sector. As for retrenchments, these declined to 10,730 in 2018, significantly lower than the 14,720 retrenched in 2017. The decrease was seen across the manufacturing, construction and services sectors.

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