Singapore's job vacancies up in Q1, but manpower demand slows in manufacturing sector
SINGAPORE: The number of job vacancies picked up in the first three months of 2025, although there were signs of slowing manpower demand in the manufacturing sector.
In March, the number of vacancies stood at 81,100, up from 77,500 in Dec 2024, according to Ministry of Manpower's (MOM) finalised data in its Labour Market Report for the first quarter of 2025.
Most sectors recorded more openings, but in manufacturing, the vacancies slipped from 8,200 in December 2024 to 8,000 in March 2025.
These numbers, however, have yet to reflect the impact of US President Donald Trump's 'Liberation Day' tariff announcement on April 2.
At a media briefing on June 27, a MOM spokesperson said the ministry ran a poll with over 8,000 firms across all sectors in April and May to capture more recent sentiments following the reduction and partial suspension of certain tariffs.
From January to March, 40.5 per cent of the firms surveyed planned to hire for the next quarter. By April and May, the number was up slightly to 42.2 per cent.
This modest increase showed that companies continue to take a measured, slow-to-hire and slow-to-fire approach in their manpower planning, the MOM spokesperson said.
MOM also noted that this increase was not broad-based, but largely driven by just a few sectors like professional services and financial services.
The proportion of companies intending to raise salaries remained stable, with 21.2 per cent of them planning to do so in the third quarter of 2025.
According to the Labour Market Report, retrenchments had dropped slightly from 3,680 in the fourth quarter of 2024 to 3,590 in the first quarter of 2025. The decline was mainly seen in the wholesale trade and community, social and personal services sectors.
But the number of retrenchments rose in manufacturing, construction, and transportation and storage in the first quarter.
The manufacturing sector also saw more employees placed on short work week. In particular, for those working in the manufacturing of electronic, computer and optical products, the number went up from 50 in the last quarter of 2024 to 180 in the first quarter this year.
DBS Bank senior economist Chua Han Teng had told The Straits Times that the second half of 2025 could see a slowdown in manufacturing growth, as significant uncertainty still persists regarding the ongoing US tariff negotiations
'The front-loading of exports orders in first half of 2025 will eventually be followed by a payback through decelerating trade and industrial production that would materialise in the second half,' he noted.
Overall, MOM said the labour market remained tight, with 1.64 job vacancies for every unemployed person.
Job openings likely to be filled by residents increased by 10.4 per cent in March 2025, up from 53,800 in December 2024. These openings accounted for seven in 10 vacancies.
Resident employment for Singaporeans and permanent residents grew by 300 in the first quarter of 2025, although at a considerably slower pace than the fourth quarter of 2024.
Non-resident employment among S Pass and Employment Pass holders grew by 2,000, driven by work permit holders who were mainly working as bus and truck drivers, jobs less likely to be taken up by residents.
On the whole, the employment growth had slowed significantly in the first quarter of 2025 compared with the fourth quarter of 2024 – when the number of residents and foreign workers grew by 1,400 and 6,300 respectively. - The Straits Times/ANN
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