The number of employed persons in January 2023 further increased by 0.2 per cent (+28.9 thousand persons) to record 16.16 million persons (December 2022: 16.13 million persons). In January, the employment-to-population ratio, which indicates the ability of an economy to create employment, remained at 67.3 per cent.

In terms of economic sectors, Services sector continued to register increases in the number of employed persons, largely in Wholesale & retail trade; Food & beverage services; and Administrative & support service activities. Similar trend of employment was also observed in the Manufacturing, Construction and Mining & quarrying sectors, as well as in the Agriculture sector.

The employees’ category accounted for 75.7 per cent of the total employed persons in January 2023. As compared to the previous month, this category recorded a marginal increase of 0.1 per cent (+11.8 thousand persons), reaching a total of 12.24 million persons (December 2022: 12.23 million persons). A similar trend was also observed in the own-account workers, with an increase of 0.6 per cent (+16.9 thousand persons) to record 2.88 million persons (December 2022: 2.86 million persons).

The number of unemployed persons declined further in January 2023 to record 596.1 thousand persons, reduced by 0.6 per cent (-3.5 thousand persons) as against 599.6 thousand persons in December 2022. The unemployment rate during the month remained at 3.6 per cent.

The number of labour force improved further in January 2023, increased by 0.2 per cent or 25.4 thousand persons to record 16.76 million persons (December 2022: 16.73 million persons). The labour force participation rate (LFPR) in January was unchanged at 69.8 per cent.

In January 2023, the number of persons outside the labour force posted a decline of 1.2 thousand persons (-0.02%) to 7.24 million persons (December 2022: 7.24 million persons). Housework/ family responsibilities were the main reason for the outside labour force with a contribution share of 43.0 per cent, followed by schooling/ training with 40.8 per cent.