IMPACT – MEDIUM
What is the change? Singapore has released a report on labor market trends in 2015.
What does the change mean? The economy is softening and showing slower growth in local and foreign employment. Total employment grew by less than 1 percent, but unemployment remained low, averaging 1.9 percent.
BAL Analysis: The report is consistent with government policies that have encouraged employers to localize their workforces and restructure toward a manpower-lean economy.
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