Singapore's labour market added 27,700 jobs in the third quarter of 2026, marking its 20th consecutive quarter of employment growth.
However, the improvement in hiring came alongside a rise in retrenchments, which reached its highest quarterly level since the end of 2020.
According to advance labour market data released by Singapore's Ministry of Manpower (MOM) on Friday (October 30), total employment growth accelerated from 11,400 in the previous quarter and surpassed the 25,100 recorded in the same period last year, CNA reported.
Despite the stronger employment numbers, the increase in retrenchments highlights the uneven conditions across Singapore's labour market, with businesses continuing to restructure amid global economic uncertainty.
Non-resident workers drive employment growth
Employment growth in Q3 was led primarily by non-resident workers, particularly in the construction and manufacturing sectors.
Resident employment growth, meanwhile, continued to be supported mainly by essential and public services.
Growth in outward-oriented sectors remained subdued amid global economic uncertainty, MOM said.
The figures indicate that employment gains were concentrated in specific parts of the economy, while sectors more exposed to international economic conditions continued to face challenges.
Retrenchments reach highest level since Q4 2020
Retrenchments rose to 4,800 in Q3, up from 4,620 in the preceding quarter. This is the highest quarterly figure since Q4 2020, when 5,640 workers were retrenched.
However, the incidence of retrenchment remained unchanged at two per 1,000 employees, suggesting that the overall rate of job losses relative to the workforce was stable.
MOM said retrenchments were mainly driven by business reorganisation and remained elevated in selected outward-oriented sectors.
The increase comes as companies reassess their operations and workforce requirements amid an uncertain global economic environment.
Unemployment rates edge higher
Singapore's resident and citizen unemployment rates also edged up in September.
The resident unemployment rate increased to 3% from 2.9% in August, while the citizen unemployment rate rose to 3.1% from 3%.
The overall unemployment rate, however, remained unchanged at 2%.
MOM is expected to release the full labour market report for Q3 in mid-December, offering further details on employment trends, retrenchments and unemployment across the country.