Singapore’s Ministry of Manpower has released its Labour Market Report for the first quarter of 2025, revealing a 1.2% increase in employment, largely fuelled by growth in the services sector. The report highlights a continued recovery in the job market, with total employment reaching 3.7 million. This growth is attributed to a surge in demand for services, particularly in the information and communications, finance and insurance, and professional services industries.
The report also indicates a decline in unemployment rates, which fell to 2.5% from 2.7% in the previous quarter. This improvement reflects the government’s ongoing efforts to bolster the economy and create more job opportunities for Singaporeans. The Ministry of Manpower noted that the positive trend is expected to continue as the global economy stabilises and local businesses adapt to post-pandemic conditions.
However, the report cautions about potential challenges ahead, including the need for workforce upskilling to meet the demands of an evolving job market. “As we move forward, it is crucial for both employers and employees to focus on skills development to remain competitive,” the ministry stated.
Looking ahead, the Ministry of Manpower plans to introduce initiatives aimed at enhancing workforce capabilities and supporting sectors with high growth potential. These efforts are part of a broader strategy to ensure sustainable economic growth and resilience in Singapore’s labour market.
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