Singapore layoffs rise to near 6-year high in Q3
Singapore's retrenchments surged to their highest level since late 2020 in the third quarter of 2026, fueled by business reorganizations.
Singapore saw layoffs rise to near a six-year high in Q3, with 4,800 retrenchments reported, according to the ministry's labor market report. This marked a 4,620 layoffs in Q2, the highest since 5,640 in Q4 2020 during the COVID pandemic. The increase in retrenchments persists in sectors oriented towards exports. Despite overall unemployment remaining unchanged at 2.0%, resident and citizen unemployment rose to 3.0% and 3.1%, respectively, from 2.9% and 3.0% in August.
The share of companies anticipating layoffs over the next three months also increased to 3.1%, from 2.8% a month earlier. While the labor market expanded, retrenchments remained elevated, indicating potential weaknesses in certain parts of the labor market that require close monitoring.
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