Overview
The employment data from Singapore’s Ministry of Manpower (MOM) provides valuable insights into the job market trends from 2020 to 2024. This period captures the significant impact of COVID-19 on employment and the subsequent recovery patterns.
Key Employment Statistics
Employment Level (Year-end, ‘000)
| Year | 2020 | 2021 | 2022 | 2023 | 2024 |
Total | 3,603.3 | 3,643.5 | 3,889.8 | 3,986.4 | 4,046.2 |
Employment Change (Annual, ‘000)
| Year | 2020 | 2021 | 2022 | 2023 | 2024 |
| Total Change | -181.0 | 40.2 | 250.1 | 96.7 | 59.8 |
Employment Distribution by Sector (%)
| Sector | 2020 | 2021 | 2022 | 2023 | 2024 |
| Manufacturing | 12.5 | 12.4 | 12.5 | 12.2 | 12.0 |
| Construction | 11.2 | 11.2 | 12.8 | 13.2 | 13.3 |
| Services | 75.6 | 75.8 | 74.1 | 74.0 | 74.1 |
| Others | 0.7 | 0.7 | 0.6 | 0.6 | 0.6 |
Quarterly Employment Changes (2020–2024)
2020 Quarterly Employment Change (‘000)
• Q1: -25.4
• Q2: -113.5 (Significant drop due to COVID-19 impact)
• Q3: -34.4
• Q4: -7.8
2021 Quarterly Employment Change (‘000)
• Q1: 13.9
• Q2: -19.9
• Q3: -8.4
• Q4: 54.6 (Strong recovery in Q4)
2022 Quarterly Employment Change (‘000)
• Q1: 47.4
• Q2: 71.1
• Q3: 83.4
• Q4: 48.1
2023 Quarterly Employment Change (‘000)
• Q1: 39.1
• Q2: 24.1
• Q3: 25.4
• Q4: 8.0
2024 Quarterly Employment Change (‘000)
• Q1: 8.1
• Q2: 14.9
• Q3: 24.9
• Q4: 11.9
Key Observations
1. COVID-19 Impact: 2020 saw a significant decline in employment (-181,000), with the most severe impact in Q2 (-113,500).
2. Recovery Pattern: Recovery began in 2021 (+40,200) and accelerated in 2022 (+250,100).
3. Sectoral Shifts: Services sector remained dominant (74-75% of employment) throughout the period.
4. Construction Sector Recovery: Construction sector employment share increased from 11.2% in 2020-2021 to 13.3% by 2024.
5. Manufacturing Stability: Manufacturing sector maintained relatively stable employment share (12.0-12.5%).
6. Current Trend: Employment growth has moderated in 2023-2024 compared to the strong recovery in 2022.
