Unemployment rates fall to near pre-COVID-19 levels, job market recovery to extend in 2022: MOM

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SINGAPORE: Total employment rebounded in 2021, with unemployment rates dipping to near pre-COVID-19 levels, the Ministry of Manpower (MOM) said in its 2021 Labour Market Report released on Monday (Mar 14). The labour market recovery is expected to continue this year, with economic growth gaining momen

SINGAPORE: Total employment rebounded in 2021, with unemployment rates dipping to near pre-COVID-19 levels, the Ministry of Manpower said in its 2021 Labour Market Report released on Monday .

The annual average unemployment rate fell from 3 per cent to 2.7 per cent, with resident unemployment rate decreasing from 4.1 per cent to 3.5 per cent. However, it fell moderately in Accommodation, Air Transport & Supporting Services, and Arts, Entertainment & Recreation, due to tight travel restrictions for the most part of the year.With the gradual easing of border restrictions, non-resident employment increased in the fourth quarter of 2021 for the first time in two years.

By industry, non-resident employment declined in all sectors, except for construction, which was boosted by the increase in the final quarter of 2021 as border restrictions eased, said MOM.

 

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