Singapore Layoffs Rise to 4,800 in Third Quarter Even as Employment Grows

Singapore's Ministry of Manpower reported 4,800 retrenchments in the third quarter of 2026, up from 4,620 in the second quarter, as companies reorganised operations in an uncertain global economy. The advance figures, released on Friday, October 30, showed the highest quarterly number of layoffs since the final three months of 2020, when 5,640 workers were retrenched.

The rise in layoffs came alongside continued employment growth. Total employment increased by 27,700 in the July-to-September quarter, compared with an increase of 11,400 in the previous quarter and 25,100 in the corresponding period a year earlier. The expansion was Singapore's twentieth consecutive quarter of employment growth.

Much of the latest hiring was among non-resident workers in construction and manufacturing, while resident employment growth was supported primarily by essential and public services. Retrenchments were associated mainly with business reorganisation and remained elevated in some industries exposed to overseas demand.

Singapore's overall unemployment rate stayed at 2.0% in September. The resident rate edged up to 3.0% from 2.9% in August, and the citizen rate increased to 3.1% from 3.0%. These rates refer to different populations and should not be confused with the number of people retrenched during the quarter.

The incidence of retrenchment remained at two workers per 1,000 employees. The share of firms expecting to retrench staff over the next three months increased to 3.1% in September from 2.8% in August. At the same time, the proportion expecting to hire also rose, leaving a mixed picture for future labour demand.

The ministry's earlier second-quarter report had already documented an increase in retrenchments from 3,830 in the first quarter to 4,620 in the second, providing a baseline for Friday's preliminary figures. A fuller report on the third quarter is expected in December. The data indicate uneven labour-market conditions rather than an overall contraction in employment.