Redundancy figures reach 7-year high
According to the Ministry of Manpower's (MOM) report on labour market released in December, the number of workers made redundant in the first nine months of this year is the highest it has been since the 2009 global financial crisis.
A total of 13,730 workers were laid off from January through September, the highest since 2009. Third quarter figures revealed 4,220 workers were made redundant, including professionals, managers, executives and technicians. MOM stated that they will continue to step up help for those affected by the economic situation to seek job opportunities. MOM did, however, report a rise in re-entry rates, as more residents who were made redundant in the second quarter were able to find jobs.