Employment growth rose to 21,700 in Q3

Over half of the growth came from the services sector.

Total employment growth rose to 21,700 workers in Q3 2019, from 6,200 in Q2 and 16,700 in Q3 2018, according to data from the Ministry of Manpower (MOM).

Also read: Employment rate rose to 80.8% in June despite economic slowdown

In 9M 2019, employment growth was the highest in five years at 30,400 from 30,300 last year.

The services sector formed the bulk of total employment growth in Q3 at 15,300. Meanwhile, the growth in the construction sector doubled to 5,400 from 2,700 in the previous quarter, attributed to increasing public and private sector construction activities. Employment in the manufacturing sector reversed its three quarters of decline as it rose by 1,000. However, MoM noted that this figure is still lower than the rate in 2018 at 3,500.

On the other hand, overall unemployment rate inched up to 2.3% from 2.2% from the previous quarter. Unemployment rate, likewise, inched up amongst residents (from 3.1% to 3.2%) and citizens (from 3.2% to 3.3%).

Retrenchments also grew to 2,430 from 2,320 in the previous quarter, but declined on a YoY basis from 2,860. The six-month re-entry rate amongst retrenched residents grew to 65% from 60% in Q2 and 62% from a year ago.

The number of job vacancies dropped to 42,200 in September from 47,700 in June. The ratio of job vacancies to unemployed persons also declined to 0.83 from 0.94 over the same period.

Job vacancies in September notably came from professionals, managers, executives and technician (PMET) positions, and in community, social & personal services, financial & insurance services, information & communications and professional services.