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Retrenchments in Singapore more than doubled in 2023 from the previous year to 14,320, even as the overall unemployment rate fell slightly. Total employment growth for the full year of 2023 slowed amid weaker economic conditions, following a sharp post-pandemic rebound in 2022.

So should we expect this trend to stay?

Rahul Chawla, Partner & Head of Human Capital Solutions, Southeast Asia, Aon shares his views. 

Retrenchments in Singapore more than doubled in 2023 from the previous year to 14,320, even as the overall unemployment rate fell slightly. Total employment growth for the full year of 2023 slowed amid weaker economic conditions, following a sharp post-pandemic rebound in 2022.
So should we expect this trend to stay?
Rahul Chawla, Partner &amp; Head of Human Capital Solutions, Southeast Asia, Aon shares his views.

Your Way Home with Hongbin Jeong is your 4–8pm drive companion,

Your Way Home with Hongbin Jeong is your 4–8pm drive companion, guiding you through the day’s biggest headlines, trending conversations and the issues shaping Singapore and the world.

From news and current affairs to lifestyle insights and generational perspectives, the show helps you make sense of what’s happening — with clarity, context and a touch of personality.

Whether you’re catching up after a long day or tuning in on the move, Your Way Home keeps you informed, engaged and connected — all the way home.

And she closes the day with a song that says it all.

Your Way Home with Hongbin Jeong is your 4&ndash;8pm drive companion, guiding you through the day&rsquo;s biggest headlines, trending conversations and the issues shaping Singapore and the world.
From news and current affairs to lifestyle insights and generational perspectives, the show helps you make sense of what&rsquo;s happening &mdash; with clarity, context and a touch of personality.
Whether you&rsquo;re catching up after a long day or tuning in on the move, Your Way Home keeps you informed, engaged and connected &mdash; all the way home.
And she closes the day with a song that says it all.