Singapore Q3 Layoffs Reach 4,800, Near Six-Year Peak
The Ministry of Manpower reported 4,800 retrenchments in the third quarter of 2026, an increase from Q2 and the highest figure since late 2020, primarily due to business reorganisations.
Job Cuts Rise in Third Quarter
Singapore's Ministry of Manpower reported 4,800 retrenchments in the third quarter of 2026. This figure marks an increase from 4,620 layoffs recorded in the second quarter of this year. The latest data shows the highest level of job cuts since late 2020, when 5,640 individuals were retrenched during the fourth quarter.
Business reorganisations were a primary factor behind the recent surge, with outward-oriented sectors experiencing elevated levels of job losses.
Unemployment Rates See Slight Increases
The overall unemployment rate in Singapore held steady at 2.0% in September 2026. However, the rates for residents and citizens showed a marginal rise. Resident unemployment edged up to 3.0% in September, from 2.9% in August. Similarly, the citizen unemployment rate increased to 3.1% in September, up from 3.0% the previous month. These shifts point to specific segments of the labour market facing greater pressure.
Companies Expect Further Retrenchments
Looking ahead, the proportion of companies anticipating further retrenchments over the next three months also increased. This share rose to 3.1% from 2.8% a month earlier. Despite the rise in layoffs, total employment continued its expansion, growing by 27,700 in the third quarter of this year. This growth surpassed the 25,100 recorded a year earlier and the 11,400 new jobs added in the second quarter.
The Ministry of Manpower noted that while the labour market continues to grow, persistent high retrenchment figures and increasing intentions to cut jobs indicate emerging weaknesses. Businesses in Singapore should monitor these trends closely, particularly in outward-oriented sectors, which may face continued pressure on staffing levels.
This situation could influence hiring strategies and labour cost management for companies operating in the city-state in the coming months.
This article is journalism, not investment advice; consult a licensed professional before making financial decisions. Market data is indicative, may be delayed, and should be verified with your broker or exchange before use.
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