https://www.straitstimes.com/business/job-hopping-lost-bounce-in-2023-drops-back-to-2017-level
SINGAPORE – Jumping ship has gone out of fashion among local workers with job switching at its lowest level in six years.
Only 14.7 per cent of workers changed jobs in the past two years, a rate not seen since 2017.
The chances of landing a new post have dimmed due to the weaker economic environment, despite a tight labour market.
The fall in job change was seen across all age groups, in white-collar and blue-collar posts and across industries, noted a Ministry of Manpower survey on Jan 31.
Workers aged 25 to 29 – a group that is still exploring options in their early careers – continued to change employers most frequently.
About 13.9 per cent of this cohort had moved in the 12 months up to June 2023, compared with 5.5 per cent for workers in their 50s and 3.7 per cent for those over 60