The IT and real estate sectors are among those affected by job cuts
Disclaimer: Unless otherwise stated, any opinions expressed below belong solely to the author. Data sourced from the latest Economic Survey of Singapore for Q3 of 2025.
According to the latest data released by the Ministry of Trade and Industry (MTI) on Friday, the total unemployment rate in Singapore remains stable and low, at 2% overall and under 3% for local residents (citizens and PR). What’s more, hiring was strong in the third quarter of 2025, with nearly 30,000 jobs added, for a total of close to 50,000 this year (those figures include non-residents, though).
Your personal situation, however, depends on what you do. And things are less rosy when we look at how specific industries are performing, as seven of them are reporting net losses totaling 19,800 people over the nine months of 2025.
Changes in employment by sector
| Industry | Q1 2025 | Q2 2025 | Q3 2025 | Total in 2025 |
|---|---|---|---|---|
| Real Estate | -700 | -2,500 | -1,200 | -4,400 |
| Information & Communications | -1,600 | -1,700 | -800 | -4,100 |
| Professional Services | -1,200 | -2,600 | -300 | -4,100 |
| Retail Trade | -2,400 | -2,300 | 900 | -3,800 |
| Wholesale Trade | 700 | 300 | -2,900 | -1,900 |
| Education | 100 | 100 | -1,100 | -900 |
| Food & Beverage Services | -100 | -1,200 | 700 | -600 |
| Accommodation | 100 | -300 | 1,000 | 800 |
| Administrative & Support Services | 1,100 | 3,500 | -2,700 | 1,900 |
| Arts, Entertainment & Recreation | -200 | 900 | 1,400 | 2,100 |
| Public Administration & Defence | 1,500 | 100 | 800 | 2,400 |
| Transportation & Storage | 2,400 | 600 | 500 | 3,500 |
| Manufacturing | -400 | 900 | 5,400 | 5,900 |
| Health & Social Services | 3,000 | 1,800 | 2,200 | 7,000 |
| Financial & Insurance Services | 2,500 | 5,700 | 2,100 | 10,300 |
| Other Services | 3,500 | 3,800 | 9,700 | 17,000 |
| Construction | -1,000 | 5,800 | 13,700 | 18,500 |
| TOTAL | 6,900 | 12,900 | 29,900 | 49,700 |
What’s worse, most of the net growth industries (with a notable exception of Finance & Insurance) are at the lower end of the pay scale. Construction and migrant domestic workers make up the majority of new hires this year.
Meanwhile, high-value sectors employing qualified locals like IT, professional services, trade, or even real estate—clearly affected by the cooling measures enacted by the government to tame housing inflation—are bleeding thousands of jobs.
