60% of residents in high-paying jobs in Singapore are employed by foreign-owned companies.
The Ministry of Manpower in Singapore reported that foreign-owned companies employ 60% of residents in high-paying jobs, despite making up only 20% of firms. In Q2 2024, overall employment rose by 11,300, mainly due to non-resident growth, particularly in construction and manufacturing. While unemployment improved, fewer retrenched residents found new jobs within six months. Future growth in resident employment is anticipated due to demand in professional and financial sectors.
September 17, 2024
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