Layoffs in Singapore slid to a record low during the first three months of the year, while the resident unemployment rate fell for the third straight quarter, as the economy continues to recover from the pandemic
Retrenchments fell to 1,300, or 0.6 per 1,000 employees during January-March, according to estimates released Thursday by the Ministry of Manpower.
Meanwhile, the resident unemployment rate came in at 3% and overall unemployment declined to 2.2%. Non-resident employment formed the bulk of job increases during the period, mainly in the construction sector.
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