Chart of the Day: Hiring slowed in Q1

Hiring sentiments in services and manufacturing were generally weaker.

The Monetary Authority of Singapore reported:

The labour market added an estimated 27,400 workers in Q1 2012, down from 37,600 in the preceding quarter. This was largely due to the seasonal slowdown in the hospitality-related segments as well as generally weaker hiring sentiments in services and manufacturing.

The manufacturing sector saw net job losses of 500, marking the second consecutive quarter of employment contraction. The services sector expanded headcount by 19,800, which was considerably lower than that in Q1 2011. However, the strong employment expansion of 8,000 in the construction sector provided some offset.