Singapore’s tight labour market conditions will likely persist as demand for talent remains strong and the economy continues to improve.
The analysts said the trend reflects strong wage growth for the workers with the average monthly earnings currently surpassing pre-pandemic levels. The ratio of job vacancies to unemployment also stayed above 1% even after it slipped to 1.6% in the first quarter from 1.7% previously. The volume of job vacancies continued to rise for the second consecutive quarter.Employment across the city-state expanded by 4,700 in Q1, although unemployment rate continued to inch up to 2.1% in March, according to MoM’s data.
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