Redundancies in Singapore have declined in Q1 2017

According to the Ministry of Manpower (MOM) latest Labour Market Advanced Release First Quarter 2017, redundancies have declined in Singapore in Q1 2017.

Based on preliminary estimates, 4,800 workers were laid off in the first quarter of 2017. Following an increase in the previous quarter, redundancies declined from 5,440 in Q4 2016 to 4,800 in Q1 2017. While this is a decrease, it is similar when compared a year ago (4,710).

The services sector continued to form the bulk of redundancies (63%) in the first quarter of 2017, followed by manufacturing (21%) and construction (17%). Redundancies are also expected to remain elevated due to some sectors continuing to experience cyclical weakness, and businesses continuing to restructure.

Photo / Ministry of Manpower