Singapore’s hiring outlook has reached its lowest point in nearly four years, with the Net Employment Outlook (NEO) for Q1 2026 standing at 15%, according to the latest ManpowerGroup Employment Outlook Survey. This represents a decline of five points from the previous quarter and 11 points year-on-year. The survey, which included responses from 504 employers, highlights how economic caution is reshaping workforce strategies across the nation.
Nearly half of the surveyed employers, 46%, plan to maintain their current staffing levels, whilst 32% intend to increase headcount. Conversely, 18% anticipate reducing their workforce. The Finance and Insurance sector reports the strongest outlook, with a NEO of 33%, marking a 23-point increase from the previous quarter, although it is down by six points compared to the previous year.
Economic uncertainty continues to play a significant role in hiring decisions. Among organisations maintaining headcount, 23% are adopting a wait-and-see approach regarding economic developments before making hiring decisions. Meanwhile, 30% of those planning staff reductions cite economic challenges as the primary reason.
The survey underscores the impact of economic conditions on employment strategies, with the NEO data seasonally adjusted to account for typical annual hiring fluctuations. As Singapore navigates these uncertain times, the employment landscape remains cautious, with businesses closely monitoring economic trends before committing to significant staffing changes.
