Stressed exhausted young Asian business woman suffering from severe depression between meeting in office.

SINGAPORE: Singapore has seen a decline in the number of S Pass and Employment Pass (EP) holders in the second quarter of the year, according to data released by the Ministry of Manpower (MOM). This trend has been attributed to a combination of policy changes and sector-specific challenges.

MOM highlighted that the decline in S Pass holders was largely driven by the manufacturing sector. The government’s ongoing efforts to improve the quality of S Pass holders, including measures such as raising qualifying salaries, tightening quotas, and implementing higher standards, were significant factors in this reduction.

Employment Pass holders also saw a drop, particularly in industries like Information & Communications, Professional Services, and Financial & Insurance Services. The post-pandemic hiring surge, which initially led to a strong recovery in employment, has begun to taper off, contributing to the decline in EP numbers in these sectors.

Despite these decreases, overall non-resident employment grew by 12,000 in Q2, fueled primarily by the hiring of Work Permit holders. These roles were mainly in sectors where resident workers are less inclined to seek employment, particularly in non-PMET positions.

MOM also reported a slight decline of 600 in resident employment, which partially offset the non-resident employment growth. Nonetheless, total employment in Singapore still rose by 11,300 in Q2.

The construction and manufacturing sectors played a major role in driving non-resident employment growth, while outward-facing sectors like Financial & Insurance Services, Information & Communications, and Professional Services were key contributors to resident employment growth.