Singapore’s job market is evolving, and the Ministry of Manpower’s latest Labour Market Advance Release report for Singapore in the first quarter of 2025 (January to March) reveals valuable trends and critical insights for jobseekers. Whether you’re looking for a career change, job security, or growth opportunities, these numbers paint a clearer picture of Singapore’s employment landscape and what it means for your next move.
1. Singapore’s employment grew by 0.06% in the first quarter of 2025.
While the total employment of residents and non-residents (excluding Migrant Domestic Workers) expanded in the first quarter of 2025, the increase was a notable deceleration compared to the seasonal peak in Q4 2024 (0.21%) and the growth experienced in Q1 2024 (0.09%). This trend suggests early signs of weakening labour demand, which may likely be influenced by economic uncertainties and global trade tensions.
What this could mean for your career: The job market is growing at a more cautious pace. If you’re currently seeking a career change, this may translate into facing greater competition for open positions. It is therefore essential to adopt a targeted approach. Be in tune with matching your skill sets and experience to the requirements of each role. To discover roles that leverage your strengths, utilise resources like CareersFinder on MyCareersFuture.
2. The resident unemployment rate increased to 2.9%.
This reported increase has grown from 2.8% in December 2024. While the increase is marginal, it signals a potential shift in the labour market dynamics.
What this could mean for your career: This slight growth may indicate that some residents actively seeking employment are facing challenges in landing jobs. If you’re considering a career switch, focus on upskilling or seek guidance from WSG’s Career Matching Services to enhance your competitiveness and put yourself in a better position for emerging opportunities.
3. The moderation in labour demand was more evident in the outward-oriented sectors of Professional Services, Manufacturing, and Information & Communications.
The slowing down of demand for workers was more noticeable in specific industries that are heavily reliant on international markets and the global economy. As of March 2025, employment totalled 4,053,100 (3,746,800 when excluding Migrant Domestic Workers), encompassing a broad range of sectors, including agriculture and fishing.
What this could mean for your career: If you are employed in or seeking opportunities within sectors that are closely tied to international markets, it is prudent to anticipate slower hiring activity and increased competition for available roles.
Given the external pressures impacting these industries, you may wish to explore adjacent or domestically focused sectors that demonstrate greater resilience in the current economic climate. Proactively assessing transferable skills and expanding into growth areas, such as healthcare, finance, or community services, can help mitigate potential disruptions and support long-term career sustainability.
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4. Labour demand in Health & Social Services and Financial Services is on an upward trajectory in the first quarter of 2025.
While precise sector-level employment change figures will be released in the forthcoming Labour Market Report (mid-June 2025), the Ministry of Manpower’s advance estimates indicate that these domestically-oriented industries were among the few to register increases in resident employment during this period, in contrast to declines observed in more export-reliant sectors.
What this could mean for your career: For individuals looking for a career transition, the Health & Social Services and Financial Services sectors represent comparatively resilient and expanding opportunities. These industries have demonstrated continued hiring activity amid economic headwinds, offering greater employment stability and long-term growth potential.
You may consider retraining or upskilling to meet the evolving requirements in these fields, especially in areas such as healthcare operations, eldercare, compliance, financial advisory, and fintech. By aligning your capabilities with the needs of these growth sectors, you can enhance your employability and position yourself for success in a more resilient segment of the labour market.
5. Resident employment in Retail Trade experienced a decline in the first quarter of 2025.
The year-end festive period in 2024 was favourable for residents seeking seasonal roles to earn an income. Temporary hiring is typically intensified to meet heightened consumer demand. However, as activity gradually decreased post-holiday season, recruitment in retail naturally moderated, resulting in reduced employment figures for the sector.
What this could mean for your career: Seasonal roles in retail can serve as a useful interim income source, particularly if you are navigating between permanent positions. Should you seek full-time employment in your desired sector, consider upskilling or shifting towards industries with more stable employment.
Read Also: A Comprehensive Guide to Digital Upskilling for Employees
6. Retrenchments declined to 0.09% in the first quarter of 2025.
Retrenchments went down from 0.1% in the previous quarter, marking a continued moderation in layoffs. The majority has been attributed to business reorganisation or restructuring — a trend that remains the primary driver of retrenchments across sectors.
What this could mean for your career: Organisational restructuring is often undertaken to adapt to shifting market conditions or realign strategic priorities in response to technological advancement or changing consumer demands. As companies streamline or restructure, employees may be expected to take on new responsibilities, adopt emerging technologies, or collaborate across previously siloed departments. In such environments, reskilling becomes increasingly critical.
To remain relevant and valuable amid internal change, cultivate an open mindset, demonstrate flexibility, and be willing to learn new job functions from the ground up.
7. The rate of employers who expect to hire has decreased to 40.5%.
This number has gone down from 46.3% in December 2024, reflecting a more cautious hiring outlook amid moderating labour demand and broader economic uncertainties. It suggests that businesses are becoming more selective and deliberate in expanding their workforce in the near term.
What this could mean for your career: If you’re actively looking for work, this signals a more competitive hiring environment and potentially longer job search durations. During this time, continue to focus on upskilling, strengthening your professional network, and building your resume.
Read Also: 25 Soft Skills That Will Make Your Resume Stand Out
8. The rate of employers who plan to increase wages decreased to 21.7%.
The percentage of employers planning wage increases fell from 31.6% in December 2024, reflecting the growing caution among businesses.
What this could mean for your career: If you are currently employed, it is important to manage expectations around wage increases and recognise that salary reviews may be deferred or more conservative. If you wish to remain at your current job, you can consider practising prudent financial planning and exploring alternative income streams.
Continue to demonstrate strong performance and communicate your value to your managers. By doing so, you position yourself favourably for consideration when wage revisions resume or when internal opportunities arise.
9. Singapore’s economic growth slowed to 3.8%.
The nation’s GDP dropped from a 5% growth in Q4 2024. According to the Ministry of Trade and Industry’s advance estimates, this slowdown reflects weakened external demand and mounting global trade tensions, which have begun to weigh on export-oriented sectors and overall business confidence.
What this could mean for your career: In a slower-growing economy, companies often adopt a more cautious approach to hiring, wage growth, and resource allocation. If you’re employed, you may face broader and more dynamic job scopes, as organisations look to optimise internal capabilities rather than expand headcount. Consider remaining adaptable and open to change, which may include learning new systems or technologies and contributing beyond one’s immediate role.
10. Singapore’s GDP growth forecast decreased to the 0% to 2% range.
This has shifted from the earlier predicted range of 1% to 3%, which may imply that economic conditions in the coming quarters may be more challenging than initially predicted.
What this could mean for your career: With the current range, job growth may be slower. This is the ideal season to invest in personal development and explore training programmes. By staying proactive in enhancing your capabilities, you can better navigate a potentially tightening job landscape and remain competitive as businesses adjust to the evolving economic climate.
Navigating Singapore’s evolving job market
Singapore’s labour landscape is shifting, bringing both opportunities and challenges for jobseekers. Whether you’re planning a career switch, seeking better opportunities, or securing long-term employment, staying informed about these trends will help you make strategic career decisions.
Explore CareersFinder, sign up for Career Matching Services, or take up upskilling programmes to future-proof your career.
