Singapore retrenchments rise sharply in Q2 amid falling vacancies and fewer laid-off workers finding jobs

MOM said that the labour market remained relatively tight, with vacancies still exceeding those out of work, at a rate of 1.48 vacancies per unemployed person in June.

Entry-level PMET vacancies remained broadly stable, at 31,700 vacancies or 45.3 per cent of all vacancies in June, compared to 32,800 vacancies or 43.6 per cent of all vacancies in March.

Speaking to reporters during a visit to cybersecurity firm Acronis, Acting Manpower Minister Jasmin Lau noted these “signs of change”.

“Fewer job vacancies were added this quarter, and some workers are finding the transition into their next role taking slightly longer. This is a concern for some Singaporeans,” she said.

Although job opportunities remain, moving from one job to the next can be challenging, said Ms Lau.

She pointed to career conversion programmes, which target mid-career workers, as one way the government will support workers.

“Instead of learning a new skill and then hoping to find a job that uses it, workers train for actual roles that companies need. They learn on the job, gain real experience, and build on the skills they already have,” she said.

“This is the shift I hope we can all make together – learning new skills not just to protect what we have, but to open up more possibilities for what comes next.

“Many things will change – the economy, industries and job roles that are available. But when we keep building on our skills, we can face these changes with more confidence.

“Our government is committed to supporting our workers and creating pathways for Singaporeans to build these new skills and to move into job opportunities,” said the acting minister.