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Employment in Singapore - statistics & facts

Singapore’s economy is largely services-based, and the majority of its residents were employed in this sector. The last decade has seen relatively consistent economic growth, contributing to a robust job market and high labor force employment rates. However, Singapore currently faces its worst economic performance in its history, with consequences for its job market and labor force.

Singapore’s most precious resource is its human capital

One of the key national narratives in Singapore is the importance of its human capital to make up for its lack of natural resources. With a resident population of just under six million, it has a relatively small pool of labor. To meet the demands of its economy, Singapore relies on both building up a highly skilled local workforce, as well as attracting the necessary workers needed from abroad. The foreign workforce helps to not only to fill the gaps in skilled employment, but also provide a supply of low-cost manpower for labor-intensive sectors such as construction, gastronomy and hospitality, and healthcare services. For these sectors especially, employing foreign labor would be more competitive and cost-effective than employing locals.

Singapore’s reliance on foreign labor has led to some resentment among the local population, with some fearing that locals are losing out on jobs. The employment market in Singapore is competitive, with fewer job vacancies than unemployed persons. However, the unemployment rate in Singapore has remained low in the last decade and coupled with the tangible economic prosperity and standards of living, such sentiments have not had a detrimental impact on the employment landscape.

The COVID-19 pandemic and its impact on employment

The recession caused by the COVID-19 pandemic led to volatility in employment, with the retail, F&B, and tourism sectors especially affected. Furthermore, the strict lockdowns and uncertainty over the job market have led to significant job losses for the non-resident population, affecting all sectors and skill levels. Travel restrictions introduced by countries to control the COVID-19 pandemic meant that the departing workers could not be replaced, leading to a sharp decrease in workers employed in foreign-labor intensive industries such as construction and sanitation.

Key figures

The most important key figures provide you with a compact summary of the topic of "Employment in Singapore" and take you straight to the corresponding statistics.

Employment and unemployment

Compensation and productivity

Interesting statistics

In the following 6 chapters, you will quickly find the 29 most important statistics relating to "Employment in Singapore".

Employment in Singapore

Dossier on the topic

All important statistics are prepared by our experts – available for direct download as PPT & PDF!
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Employment in Singapore - statistics & facts

Singapore’s economy is largely services-based, and the majority of its residents were employed in this sector. The last decade has seen relatively consistent economic growth, contributing to a robust job market and high labor force employment rates. However, Singapore currently faces its worst economic performance in its history, with consequences for its job market and labor force.

Singapore’s most precious resource is its human capital

One of the key national narratives in Singapore is the importance of its human capital to make up for its lack of natural resources. With a resident population of just under six million, it has a relatively small pool of labor. To meet the demands of its economy, Singapore relies on both building up a highly skilled local workforce, as well as attracting the necessary workers needed from abroad. The foreign workforce helps to not only to fill the gaps in skilled employment, but also provide a supply of low-cost manpower for labor-intensive sectors such as construction, gastronomy and hospitality, and healthcare services. For these sectors especially, employing foreign labor would be more competitive and cost-effective than employing locals.

Singapore’s reliance on foreign labor has led to some resentment among the local population, with some fearing that locals are losing out on jobs. The employment market in Singapore is competitive, with fewer job vacancies than unemployed persons. However, the unemployment rate in Singapore has remained low in the last decade and coupled with the tangible economic prosperity and standards of living, such sentiments have not had a detrimental impact on the employment landscape.

The COVID-19 pandemic and its impact on employment

The recession caused by the COVID-19 pandemic led to volatility in employment, with the retail, F&B, and tourism sectors especially affected. Furthermore, the strict lockdowns and uncertainty over the job market have led to significant job losses for the non-resident population, affecting all sectors and skill levels. Travel restrictions introduced by countries to control the COVID-19 pandemic meant that the departing workers could not be replaced, leading to a sharp decrease in workers employed in foreign-labor intensive industries such as construction and sanitation.

Interesting statistics

In the following 6 chapters, you will quickly find the 29 most important statistics relating to "Employment in Singapore".

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