Explore Singapore’s latest labour market trends, including job vacancies, employment growth, hiring intentions and what they mean for employers and jobseekers.

Singapore’s job market continues to create opportunities — but beneath the headline numbers, the employment landscape is becoming more nuanced. 

The Ministry of Manpower’s (MOM) latest Labour Market Report for the second quarter of 2026 shows that total employment continued to grow and unemployment remained low. At the same time, job vacancies declined, retrenchments increased and some workers are taking longer to secure their next role.

For employers, this means having vacancies does not necessarily make hiring easier. Finding candidates with the right combination of skills, experience and adaptability remains a challenge.

For jobseekers, opportunities are still available, but employers are becoming more selective about the capabilities they need.

So, what do the latest numbers tell us about Singapore’s job market?

Here are five key trends — and what they could mean for hiring and careers in the months ahead.

1. There Were 68,600 Job Vacancies in June 2026

Singapore recorded 68,600 job vacancies in June 2026, according to MOM.

That remains a substantial number of available positions, although it represents a decline from 73,300 vacancies in March 2026.

The decrease was mainly driven by fewer Professional, Manager, Executive and Technician (PMET) vacancies in sectors including Financial Services and Information & Communications.

This suggests a labour market that remains active, but where employers may be approaching recruitment more carefully.

What does this mean for employers?

A softer labour market should not be interpreted as an automatic solution to hiring challenges.

A larger pool of available candidates does not necessarily mean a larger pool of candidates with the exact experience, technical skills or industry knowledge required for a particular position.

Employers may therefore benefit from reconsidering overly narrow hiring requirements.

Rather than looking exclusively for someone who has already performed an almost identical role, organisations can identify the capabilities that are genuinely essential from day one — and which can realistically be developed after hiring.

This is where a skills-based hiring approach can be particularly valuable.

Candidates with transferable skills, relevant adjacent experience and the ability to learn may sometimes provide a stronger long-term talent solution than candidates who simply match a traditional checklist.

What does this mean for jobseekers?

Competition may be stronger for certain roles, so applications need to demonstrate relevance quickly.

Rather than simply listing responsibilities from previous jobs, candidates should show what they accomplished, the problems they solved and the skills they can bring to a prospective employer.

2. There Are Still More Vacancies Than Unemployed People

One of the most significant numbers in the latest report is 1.48.

In June 2026, Singapore had 1.48 job vacancies for every unemployed person, broadly similar to the 1.46 recorded in March.

In other words, vacancies still outnumber unemployed persons.

MOM therefore describes the labour market as remaining relatively tight despite some signs of softening.

This distinction matters.

A decline in job vacancies does not necessarily mean that hiring has stopped. Instead, employers and jobseekers may be experiencing a more selective employment market.

The challenge increasingly becomes one of matching people to opportunities.

For businesses, the candidate they need may exist — but not necessarily with exactly the same job title, industry background or career path they originally imagined.

For candidates, jobs may exist — but their existing experience may need to be repositioned to demonstrate how their skills can transfer into a different role or sector.

This skills-matching challenge is likely to become increasingly important as technology, automation and changing business models continue to reshape jobs.

3. Employment Is Still Growing — But the Picture Varies Across the Workforce

Singapore’s total employment increased by 11,400 in the second quarter of 2026, marking the 19th consecutive quarter of employment growth.

This was higher than the 9,400 increase recorded in the first quarter of the year.

However, the composition of that growth deserves attention.

Resident employment increased by 2,200, down from an increase of 5,400 in the previous quarter. Resident employment gains were seen in areas including Transportation & Storage, Public Administration & Education, Health & Social Services, Professional Services, Financial Services and Information & Communications.

Non-resident employment increased by 9,200, driven mainly by Work Permit Holders in Construction and Manufacturing.

Meanwhile, unemployment remained relatively low and stable in June, at 1.9% overall, 2.9% for residents and 3.0% for citizens.

For employers, these figures reinforce the importance of looking beyond overall employment statistics when developing workforce strategies.

Different industries, occupations and talent segments can experience very different hiring conditions at the same time.

A company hiring healthcare professionals, engineers, technology specialists or frontline workers, for example, may face very different talent challenges from an organisation recruiting for corporate functions.

Effective workforce planning therefore requires more than following headline employment numbers. Employers need to understand the availability, expectations and skills of the specific talent groups they are trying to attract.

4. Retrenchments Have Increased — And Job Transitions Are Taking Longer

Another important development is the rise in retrenchments.

Retrenchments increased from 3,830 in the first quarter of 2026 to 4,620 in the second quarter.

MOM said the increase was concentrated in outward-oriented sectors including Manufacturing, Information & Communications and Financial Services, with business reorganisation and restructuring remaining key drivers.

At the same time, some retrenched workers are taking longer to secure new employment.

The proportion of retrenched residents who returned to employment within six months fell from 60.7% in the first quarter to 54.9% in the second quarter.

However, the 12-month re-entry rate remained broadly stable at close to 70%.

These numbers highlight an important reality: having vacancies in the economy does not automatically translate into immediate job matches.

For employers: look at transferable talent

Companies recruiting today may have an opportunity to access experienced professionals affected by restructuring in other industries.

Instead of dismissing candidates because their previous sector differs from yours, consider whether their core capabilities can transfer.

Project management, stakeholder management, data analysis, operations, sales, compliance, technology and leadership skills can often cross industry boundaries.

Employers willing to combine recruitment with targeted training may be able to tap into talent pools they previously overlooked.

For jobseekers: adaptability matters

For professionals navigating a career transition, searching only for an identical replacement role can unnecessarily narrow opportunities.

Consider asking: Which of my skills are valuable beyond my current industry?

A career move does not always need to be a straight line.

An adjacent role, different sector, contract opportunity or position requiring some reskilling may provide a valuable route into the next stage of a career.

5. Almost Half of Employers Intend to Hire — But Businesses Remain Cautious

There are encouraging signs looking ahead.

According to MOM’s July 2026 business expectations polls, the proportion of firms intending to hire in the next three months increased from 43.9% in June to 48.7% in July.

That means almost half of surveyed firms indicated an intention to recruit. However, MOM characterises the outlook as positive but cautious.

The proportion of firms intending to raise wages slipped from 29.3% to 27.9%, while both hiring and wage expectations remained below their February levels.

For HR leaders and hiring managers, this environment makes recruitment quality particularly important.

When organisations are cautious about adding headcount, every hire carries greater weight.

The question is no longer simply: “Can we fill this vacancy?”

It becomes: “Are we hiring someone who can contribute today and continue developing as the role changes?”

That requires a clearer understanding of what success in the position actually looks like.

Employers should define essential skills, separate genuine requirements from preferences, assess candidates consistently and consider potential alongside previous experience.

What Should Employers Do in a More Selective Job Market?

Singapore’s latest labour market figures point towards neither a hiring boom nor a widespread downturn.

Instead, we are seeing a market where opportunities and caution coexist.

For employers, that makes recruitment strategy increasingly important.

Organisations can strengthen their approach by:

• identifying the skills genuinely required for each position;
• reviewing whether qualification and experience requirements are unnecessarily restrictive;
• considering candidates from adjacent industries;
• investing in training where skills gaps can realistically be closed;
• keeping recruitment processes efficient so strong candidates are not lost through unnecessary delays; and
• using market insights to ensure salaries and candidate expectations remain aligned.

Businesses should also avoid assuming that a softer labour market automatically means candidates will be easier to attract.

High-demand skills remain high-demand skills.

The organisations that communicate their opportunities clearly, provide realistic career development and deliver a positive candidate experience will remain better positioned to compete for talent.

What Should Jobseekers Take Away From the Latest Numbers?

For jobseekers, the latest figures provide reasons for both confidence and preparation.

There are still tens of thousands of vacancies across Singapore, unemployment remains low and employers continue to indicate hiring intentions.

But securing the right opportunity may take longer for some candidates.

That makes it important to approach a job search strategically.

Keep skills current. Tailor applications. Quantify achievements. Be open to adjacent opportunities. And most importantly, learn how to communicate the value you can bring rather than relying solely on your previous job title.

In a changing labour market, the ability to learn and adapt can be just as important as what you already know.

Singapore’s Job Market Is Changing — Not Standing Still

Perhaps the biggest takeaway from the latest labour market data is that no single number tells the entire story.

There were 68,600 vacancies, yet vacancies declined.

There were 1.48 vacancies for every unemployed person, yet some retrenched workers are taking longer to return to employment.

Employment continued growing, yet resident employment growth moderated.

And almost half of surveyed firms intended to hire, yet businesses remained cautious about expanding headcount and raising wages.

Taken together, these indicators point to a labour market in transition — one where skills, adaptability and effective matching between employers and candidates are becoming increasingly important.

For organisations, that means looking beyond conventional candidate profiles and building a more flexible, skills-focused hiring strategy.

For individuals, it means understanding where your capabilities can create value — including in roles and industries you may not previously have considered.

The opportunities are still there.

The challenge is making the right match.

Looking to Strengthen Your Workforce?

Finding the right people is about more than filling an open position. It requires understanding the talent market, identifying the skills your organisation genuinely needs and connecting with candidates who can contribute both now and as your business evolves.

At The GMP Group, our recruitment specialists work with organisations across industries to support permanent and contract recruitment, executive search, workforce solutions and broader talent needs.

Whether you’re expanding your team, struggling to fill specialised positions or reconsidering your hiring strategy for the months ahead, speak with our team about how we can help you navigate a changing talent market and build a workforce ready for what comes next.