Singapore’s seasonally adjusted unemployment rate was revised slightly lower to 2% in the second quarter of 2025, from an initial estimate of 2.1%, and unchanged from the previous quarter. This marked the highest level since Q1 2024, though it still reflects a resilient labour market amid continued economic growth. Total employment rose significantly during the quarter (10,400 vs 2,300 in Q1), driven by larger gains in both resident (+2,600) and non-resident employment (+7,800). Meanwhile, retrenchments remained stable (3,540 vs 3,590), though there were signs of softening in the labour market. Job vacancies fell to 76,900 in Q2 2025, from 81,100 in the previous quarter, with broad-based declines across most sectors. Nonetheless, labour demand continued to outpace supply, with the job vacancy-to-unemployed ratio at 1.35. Looking ahead, global uncertainties are expected to weigh on hiring and wage growth.
