Overview

• Singapore's total employment grew by 4,900 in Q1 2024, marking a slowdown from previous quarters.
• Unemployment rates in Singapore rose slightly to 2.1% in March, with jobless rates among citizens higher at 3.1%.
• The number of foreign workers in Singapore declined for the first time in over two years, primarily in the construction sector.
• Applications for higher-skilled employment passes have increased, reflecting improved business expectations.
• Despite the economic challenges, surveys indicate a positive hiring outlook, with over 50% of firms planning to hire in the next three months.