Singapore adds more jobs in Q2 even as retrenchments rose
Singapore's labor market saw a rise in retrenchments to 4,500 in the second quarter of 2026, the highest since 2020, primarily due to restructuring in the tech and manufacturing sectors. Despite this, total employment grew by 10,700, and the unemployment rate remained stable at 2 percent.
Why it matters
The data reflects the impact of global economic uncertainty and geopolitical tensions on Singapore's outward-oriented economy.
There were 4,500 retrenchments between April and June 2026, the highest number since the last quarter of 2020.
Listen Summarise Layoffs in Singapore rose 17.5 per cent to 4,500 in Q2 2026, driven by restructuring in sectors like information, communications, and manufacturing. Total employment grew by 10,700 in Q2 2026, mainly due to foreign workers in construction and manufacturing, while resident employment slowed. Unemployment stayed at 2 per cent, with firms more optimistic about hiring and wage increases. AI generated
SINGAPORE – Layoffs rose in the second quarter of 2026, even as the Singapore labour market continued to expand, according to preliminary labour market data released by the Ministry of Manpower (MOM) on July 31.
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