Singapore's labour market experienced stronger growth in 2025, with total employment expanding in the fourth quarter. While growth is expected to continue, albeit at a slower pace, hiring expectations are lower across most sectors. Unemployment rates remain stable, and retrenchment remains low. The ministry expects continued expansion in the labour market, albeit at a slower pace.
Total employment grew by 19,600 in the fourth quarter of 2025, exceeding 2024 and 2023 levels.Singapore's labour market saw stronger growth in 2025 as compared to 2024, but hiring concerns in the first quarter of 2026 remain, the Ministry of Manpower said.
said the labour market expanded in the fourth quarter of 2025.Resident employment growth was concentrated in the financial services and health and social services sectors. Total employment grew by 19,600 in the last quarter of 2025, supported by seasonal year-end hiring gains in retail trade and administrative and support services. While growth moderated from the stronger-than-expected growth in the third quarter, it exceeded growth in the same periods from 2024 and 2023 .The ministry also noted that unemployment rates remained "broadly stable" throughout the year — at two per cent — similar to those seen over the past two years. Retrenchment also remained low, with a majority occurring due to business reorganisation or restructuring, said MOM.though it remains around the pre-recessionary average.Looking ahead, MOM said that it expects a continued expansion in the labour market, albeit at a slower pace as firms take a more cautious stance towards hiring. The labour market conditions are expected to remain relatively tight, and MOM’s business expectation polls showed that hiring expectations were generally lower across most sectors. At the same time, a larger share of firms expect to raise wages over the same period — 26.4 per cent in December, up from 19.3 per cent in September — pointing to improving business outcomes and continued competition for workers in certain areas. The proportion of firms expecting to retrench workers also remains low at 4.3 per cent, suggesting selective workforce adjustments rather than broad-based job cuts, said MOM.
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