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MOM report: 94.5% of 2023 employment growth in Singapore goes to foreigners

Despite a surge of 88,400 jobs, MOM’s report shows 94.5% of 2023’s employment growth in Singapore came from non-resident workers. This number does not include the non-Singaporeans Permanent Residents who are counted as residents.



SINGAPORE: The Ministry of Manpower (MOM) unveiled the latest employment data on Thursday (14 March), offering insights into Singapore’s workforce dynamics throughout 2023.

Despite the ebbs and flows of the economy, Singapore witnessed a notable surge in total employment, boasting an increase of 88,400 (excluding migrant domestic workers) positions over the year.

This growth, however, was juxtaposed with a significant spike in retrenchments, more than doubling to 14,590 compared to the preceding year.

Non-resident workers propel employment growth

MOM’s labour market report for the fourth quarter of 2023 highlighted that the bulk of employment growth in 2023 stemmed from non-resident workers, particularly in Construction and Manufacturing, totalling 83,500.

Conversely, resident (Singapore citizens and Permanent Residents) employment experienced a more modest uptick of 4,900, concentrated in lucrative sectors such as Financial Services and Professional Services.

This means the number of job growth is 94.5% attributed to foreigners.

In 2022, total employment soared to a record-high increase of 227,800, with resident employment growing by 26,300, primarily in outward-oriented sectors such as financial services and information & communications.

This suggests that at least 88.5% of employment growth in Singapore for 2022 was fueled by foreigners.

On 28 February, Minister in the Prime Minister’s Office Indranee Rajah revealed that the Singapore government granted about 23,500 new citizenships, including about 1,300 to children born overseas to Singaporean parents. Another 34,500 new permanent residencies were also granted.

The total number of retrenchments in 2023 reached 14,590

In the fourth quarter of 2023, both resident (400) and non-resident (7,000) employment growth decelerated compared to the third quarter (resident: 2,800; non-resident: 20,800).

Meanwhile, December 2023 witnessed a slight uptick in job vacancies, totalling 79,800, breaking a streak of six consecutive quarters of decline.

MOM noted an overall cooling of labour demand throughout 2023, despite sustained employment growth, which progressively decelerated with each subsequent quarter.

However, unemployment rates remained low throughout 2023, and the number of job vacancies continued to surpass the number of job seekers.

The total number of retrenchments in 2023 reached 14,590, more than doubling the record low observed in 2022 but aligning closely with pre-pandemic levels, averaging 14,180 between 2015 and 2019.

Business reorganization and restructuring remained the primary reasons cited for retrenchments in 2023.

Notably, the number of retrenchments declined in the fourth quarter, dropping from 4,110 in the third quarter to 3,460.

MOM highlighted a decline in the re-employment rate, with 61.5% of retrenched workers securing employment within six months in the fourth quarter of 2023, down from 65.3% in the previous quarter.

Additionally, the ratio of job vacancies to unemployed persons rose to 1.74 in December 2023, indicating a moderately tight labour market.

Since March 2021’s ratio of 0.96, there have been more job vacancies per unemployed person, according to MOM.

Looking forward, MOM anticipates a strengthening labour demand in line with improved economic growth prospects for 2024.

“Forward-looking data also indicate that more employers have plans to hire or increase wages in 2024.”

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Yes! And they blame the government for this! Instead of asking why they voted for this; jobs for foreigners, NS for Singaporeans, and unemployed.

They will do the same in the next GE!

Only govt. In the world that works to find jobs for foreigners but gets a majority during elections. Singaporeans are sick in their heads or have to experience the loss of jobs and their homes before they vote in the Opposition.

So MOM’s perspective is the glass is half full rather than half empty?
It seems this MOM is really Ministry Of Magic?

No wonder more and more native citizens have to depend on gov handouts so regularly

Fake news?
Surge in employment? To who? What percentage go to Singaporeans, SPRs and foreigners?
Are all these jobs good decent jobs? Or only food delivery men, phv drivers, road sweepers, toilet cleaners, hawkers and etc???
The minister is paid million S$ but please do not give generalised figure to the public…lol. Give detail breakdown.

Just look at the figures, even if it was accurate…employment of locals vs FTs!
Chiam lah you Sinkie, somemore after 6 months no job they, the MOM remove you from the unemployment data!
Anyway, you local voters , the majority, did vote for this!😆😆😆🤣🤣🤣

A PAP Administration Minister once said, ‘they do have the figures, BUT what’s the point?’

Then what is the purpose to announce all these figures – selectively to announce one set, but keep others as top top secret – do THEY HARBOUR A CRUEL MINDSET towards those whom they are supposed to answer to?

Flippin heck, … more good, great and glorious news for SillyPore and it’s natives !!!

Can the people take any more of this, … an avalanche and tsunami of positivity and productivity !!!

Again, … just be mindful, who is making all of this possible ok ?!! !!!

Then again, … can we trust the stats, statements and spin ?!! !!!

Anyways, … enjoy the sunshine, if nothing else sparks !!!