Singapore ended 2022 with employment up by 254,000 year over year to nearly 3.90 million, according to the Singapore Ministry of Manpower.

Employment rose by 52,000 jobs in the fourth quarter following increases of 83,400 in the third, 71,100 in the second and 47,400 in the first.

Singapore’s unemployment rates also remained low, according to the Ministry of Manpower. The jobless rate in December was 2.0% overall. For residents, the jobless rate was 2.8%, while for citizens it was 3.0%.

However, the number of retrenchments (redundancies) rose to 3,000 in the fourth quarter. Retrenchments had numbered between 800 and 1,300 in the previous three quarters. The Ministry of Manpower noted the increase reflected a higher number of retrenchments in electronics, IT and wholesale trade. Retrenchments in other sectors were stable.