SINGAPORE: The city-state’s job market for the next quarter is a mix of optimism and caution, as businesses focus on workforce stability amidst a shifting global economy. The latest ManpowerGroup Employment Outlook Survey featured in an article from People Matters Global shows a steady hiring sentiment, though organisations are keeping a close watch on economic normalisation and external uncertainties.

The study, which surveyed 525 employers, reveals that 39% of businesses plan to hire in the next quarter, while 12% anticipate staff reductions. Interestingly, nearly half—49%—of employers expect no change in headcount, signalling a growing preference for maintaining workforce stability. The Net Employment Outlook (NEO), a key indicator of hiring confidence, stands at +27%, marking a two-point increase from the previous quarter and a three-point rise from the same time last year.

For the first time since early 2024, all industries in Singapore are forecasting headcount expansion, a significant shift in the hiring climate. The Healthcare & Life Sciences sector leads the charge, with an impressive NEO of +49%, reflecting a nine-point increase from the last quarter and a 13-point rise year-over-year. This makes Singapore the second most competitive market globally for healthcare hiring, surpassing the global average by 21 points.

Linda Teo, country manager for ManpowerGroup Singapore, underscores that Singapore’s hiring outlook is reflective of a stabilising labour market bolstered by stronger-than-expected economic growth in 2024. However, a deeper look at the data reveals a nuanced shift in employer sentiment, as fewer companies plan to increase or decrease their workforce. “Nearly half of the employers (49%) are choosing to maintain current staffing levels,” Teo notes, “which suggests that companies are either stabilising after post-pandemic adjustments or taking a more cautious ‘wait-and-see’ approach in the face of global economic uncertainties and trade tensions.”

The survey identifies three primary drivers of workforce expansion in Q2 2025:

• Company growth: 41% of employers are hiring to support business expansion.
• Evolving skill needs: 33% are recruiting to meet changing talent demands and remain competitive.
• Technological advancements: 33% are requiring specialised skills to navigate digital transformation.

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