Singapore's employment growth accelerates in Q2 |
In the second quarter of 2025, total employment in Singapore increased by 8,400, reflecting a resilient labour market, according to the Ministry of Manpower (MOM). This growth was driven by both resident and non-resident employment, particularly in the health and social services and financial sectors. However, the pace of growth remains slower than the previous year, with MOM noting signs of softening in outward-oriented sectors. Unemployment rates fluctuated but remained stable, with resident unemployment at 2.9% and citizen unemployment at 3%. Retrenchments held steady at 3,500, with business reorganisation cited as the main reason. MOM said: “Looking ahead, employment is expected to continue to grow, though at a more moderate pace than in 2024.” Despite a stable business sentiment, hiring and wage expectations for Q3 have dipped slightly. |
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