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Singapore's total Covid job losses far outstrip past recessions, despite resident employment recovery
By the third quarter of 2021, Singapore's total employment had fallen by 196,400 cumulatively. Of this, 113,500 or more than half of the loss was during Q2 2020 alone, during which "circuit-breaker" measures were in place.
This was several times the peak-to-trough declines during the dotcom bubble (-79,500), Asian financial crisis (-42,100) and global financial crisis (-13,800).