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2025-09-17 14:16:06
Singapore's labor market expands at a faster pace due to strong economic growth. 1. Singapore's labor market continued to expand in the second quarter of this year, at a faster pace than in the previous quarter. Revised data released by the Ministry of Manpower on Wednesday showed that total employment (excluding foreign domestic workers) increased by 10,400 in the second quarter. This increase was significantly higher than the 2,300 increase in the first quarter and higher than the initial estimate of 8,400 for the second quarter. This growth is consistent with Singapore's accelerating economic growth during the same period. 2. The Ministry of Manpower stated that both resident and non-resident employment increased compared to the first quarter. Layoffs remained stable at 3,540 in the second quarter, compared to 3,590 in the first quarter. The Ministry of Manpower stated that restructuring or reorganization remained the main cause of layoffs. 3. The unemployment rate in June also remained unchanged from March at 2.0%. Looking ahead, the Ministry of Manpower stated that global uncertainty is likely to put pressure on hiring and wages. The labor market adjustment is likely to be mainly due to slower hiring and moderate wage growth. Layoffs are also likely to rise modestly, but will remain low. "Overall, the labour market remains stable, though tentative signs of easing suggest that growth will be more selective in the coming months," the Ministry of Manpower said.
