New: You can now listen to articles.SINGAPORE: Fewer companies have reported an intention to hire or to raise wages in the next three months, according to advance labour market estimates released by the Manpower Ministry on Tuesday .
"As global economic risks such as heightened geopolitical tensions and trade conflicts persist, firms are likely to prioritise maintaining current operations over expansion or wage increases," said MOM. The preliminary data showed that total employment, excluding migrant domestic workers, grew by 24,100 in the third quarter of the year, more than double the growth of 11,300 in the second quarter.
"These positions are typically less sought after by residents, or there may be a limited pool of local candidates available. As a result, businesses seek to bring in WPHs to meet their staffing needs," said MOM.MOM found that resident employment had fallen in the food and beverage services and retail trade, which were sectors where non-resident employment grew.