Total employment growth crashes to six-year low in Q3

Some 12,600 jobs were created last quarter.

Singapore's overall employment growth dropped to its slowest pace since 2009 in the third quarter, according to data released today by the Ministry of Manpower (MOM).

Total employment grew by 12,600 in Q3, significantly lower compared to the 33,400 jobs which were created in the same period last year. However, this figure is higher than the 9,700 new jobs which were generated in the preceding quarter.

Cumulatively for the first three quarters of this year, total employment grew by 16,200, which is the lowest growth since 2009, the MOM said.

Employment growth was mainly fuelled by the 13,300 jobs which were added by the services sector. Construction added another 3,700 workers, but the increase was lower than the preceding quarter.

In September, total employment reached 3,640,100, 1.6% higher than a year ago but slower than the 2.2% pace in June 2015.