Singapore job cuts rise to highest level since 2020
Total employment increased by 27,700 in the third quarter of 2026, even as retrenchments climbed to 4,800.
Employers in Singapore cut 4,800 jobs during the third quarter of 2026, taking retrenchments to their highest level since the final quarter of 2020. Reuters reported the figures, citing Singapore’s Ministry of Manpower, with business reorganisation contributing to the rise.
The number of retrenchments was up from 4,620 in the second quarter. In the fourth quarter of 2020, job cuts had reached 5,640.
Singapore’s overall unemployment rate held steady at 2.0 per cent in September 2026. The resident rate rose from 2.9 per cent in August to 3.0 per cent, while unemployment among citizens increased from 3.0 per cent to 3.1 per cent.
The government said 3.1 per cent of companies anticipated making cost savings over the next three months, compared with 2.8 per cent a month earlier. The ministry said continued retrenchments and greater intentions to make reductions indicated weakness in parts of the labour market that warranted close monitoring.
Employment nevertheless expanded by 27,700 in the third quarter, exceeding the increase of 11,400 in the preceding quarter and 25,100 in the same period a year earlier.
