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What is GDP Growth and Employment Trends in Singapore about?

The Economic Survey of Singapore for Q3 2023 analyzes the relationship between GDP growth and employment, highlighting that employment growth typically lags behind GDP changes by two to three quarters. The study employs a VAR model to assess the dynamics of this relationship, revealing that employment responds gradually to GDP shocks, with variations across sectors. Looking forward, an anticipated increase in GDP growth in 2024 is expected to positively influence employment growth by late 2024 or early 2025

Author

techanpyr

Language

EN