Singapore creates 88,400 new jobs in 2023

Singapore, March 14 (IANS) Singapore's total employment grew 88,400 in 2023, including 83,500 for non-residents and 4,900 for residents, according to a labor market report released by the Ministry of Manpower ON Thursday.

The majority of the new employment for non-Singapore residents was in the construction and manufacturing sectors, and the resident employment growth was seen in higher-paying sectors such as financial services, Xinhua news agency reported.

The number of employed persons in Singapore exceeded 3.7 million as of December 2023, except for migrant domestic workers, according to the report.

The total retrenchment numbers in 2023 increased to 14,590 from 6,440 in 2022. The long-term unemployment rate held steady at 0.7 per cent.