![]() I hear your concerns about what this means for you and how it will impact your jobs, especially for older workers, but rest assured – we will journey with you every step of the way. The uncertain global economic environment, global inflation and geopolitical challenges in the medium term will weigh in on the labour market going forward. Even after adjusting for inflation, the real median income growth in 2022 was more than double that of 2021.Ī3. It is more than double that of the previous year of 3.2%. The nominal median income of full-time employed residents grew by 8.3% in 2022. (c) Resident wages also increased at a faster rate. (b) Resident unemployment rates have recovered to pre-COVID levels. Resident employment is already 4.4% above 2019 levels. (a) Total employment grew by more than 200,000 in 2022, surpassing its pre-pandemic level by 3.0%. ![]() Our labour market posted strong growth last year. Mr Chairman, I thank GPC MPs and others who have taken an active interest in MOM’s work and spoken in support of our workers and our businesses.Ī2. 1 March 2023 Skills, training and development Work passes and permitsĪ1.
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