The year 2016 saw diverse performance across many sectors in our economy. Cyclical and structural forces will continue to impact different sectors unevenly.
Hiring in some sectors remains cautious, but opportunities will continue to be available in others
Our Singapore economy is in transition. GDP growth has slowed to about 2 per cent in the past two years from an average of 4.5 per cent previously. Retrenchment is on the rise, and resident unemployment rate has increased to 3 per cent last year after holding steady at about 2.8 per cent since 2012.