MOM: Singapore job cuts climb in Q2 as vacancies shrink while displaced workers take longer to find jobs

Summary

• Singapore recorded 4,620 retrenchments in the second quarter (Q2) 2026, up from 3,830 in Q1, while the retrenchment rate rose to 2.0 per 1,000 employees.

• The share of retrenched residents who found work within six months fell to 54.9%, although the 12-month rate stayed near 70%.

• Job vacancies fell from 73,300 in March to 68,600 in June, while unemployment stayed low at 1.9% overall.

SINGAPORE: Singapore’s labour market kept growing in the second quarter (Q2), but some workers faced a tougher search after losing their jobs.

Retrenchments rose to 4,620 between April and June, up from 3,830 in Q1. These job cuts were the highest quarterly figure since Q4 2020, according to the Ministry of Manpower (MOM), which released its report on Sept 21.

The increase came mainly from business reorganisation and restructuring in manufacturing, information and communications, and financial services.

Finding the next job took longer for some Singaporeans

The number of retrenched residents finding work within six months fell from 60.7% in Q1 to 54.9% in Q2.

The longer view was steadier. The 12-month re-entry rate edged up from 69.4% to 69.8%, suggesting that many displaced workers eventually returned to employment, but needed more time.

Acting Manpower Minister Jasmin Lau said fewer vacancies were added during the quarter, making it harder for some Singaporeans to move into another job.

Vacancies fell while unemployment stayed low

Job vacancies dropped by 4,700 to 68,600 in June. The fall was primarily linked to fewer professional, manager, executive and technician (PMET) roles in financial services and information and communications.

Still, there were 1.48 vacancies for every unemployed person in June. Entry-level PMET roles made up 31,700 vacancies, or 45.3% of the total.

Overall employment grew by 11,400, marking the 19th straight quarter of growth. Resident employment, however, rose by only 2,200, down from 5,400 in Q1.

Older workers face added pressure

MOM said workers aged 50 and above need closer attention. Their retrenchment rate reached 3.6 per 1,000 resident employees in Q2, Channel NewsAsia (CNA) reported (Sept 21).

The unemployment rate for those in their 50s rose to 3.1%, while it reached 2.2% for workers aged 60 and above.

Businesses are still hiring, with 48.7% planning to hire over the next three months in July. Yet wage expectations slipped to 27.9%.

So Singapore still has jobs available, but the harder part for some workers is getting from one role to the next. Skills training and career support, however, may help make that transition less painful and more practical.