Singapore retrenchments rise to highest since pandemic as job vacancies fall

In Singapore, retrenchments rose to their highest level since the Covid-19 pandemic in the second quarter of 2026, according to the Ministry of Manpower. The retrenchment incidence increased to 2.0 per 1,000 employees, driven by business restructuring in manufacturing, information and communications, and financial services. Job vacancies fell to 68,600 in June from 73,300 in March, while resident employment growth slowed. Unemployment remained low at 1.9 per cent overall, but long-term unemployment inched up. The government is focusing on skills upgrading and career conversion programmes to support affected workers.