Resident employment continued its steady growth last year, increasing by 26,300, according to data from the ministry. This increase was mostly in outward-oriented sectors, such as financial services and information and communications, the ministry said.

Non-resident employment rose by 201,600 in 2022, contributing to the majority of the increase in the city-state’s total employment, the data showed. This increase was mainly owing to the hiring of work-permit holders in sectors such as construction and manufacturing, the ministry said.

The total number of retrenchments for 2022 was 6,440, below pre-pandemic levels, despite rising in the last two quarters of 2022, the data showed.

Reflecting consistent improvement across all quarters of 2022, Singapore’s annual average unemployment rates were significantly lower in 2022 than in 2021, with the overall rate falling to 2.1% in 2022 from 2.7% in 2021, the residents’ rate declining to 2.9% from 3.5% and the citizens’ rate dropping to 3.0% from 3.7%, the ministry said.

Source: https://www.marketwatch.com/story/singapore-s-employment-grew-by-record-high-227-800-in-2022-d5b2cf3b