Singapore employment growth picks up in Q3, but retrenchments continue to rise

“This increase, alongside higher actual retrenchments, points to emerging weaknesses in parts of the labour market that warrant close monitoring,” the ministry said.

“Against a more uncertain global outlook and rapid technological change, companies will need to keep adapting and investing in their workforce, while workers will need to keep their skills relevant,” it added.

Employers can make use of existing schemes, such as the career conversion programmes and Mid-Career Pathways Programme, to reskill and upskill their workers.

Workers are encouraged to take proactive steps to improve their employability and access better job opportunities through schemes such as Career Health SG. 

They can also use career coaching and guidance services provided by the Skills and Workforce Development Agency and NTUC’s Employment and Employability Institute, as well as join SkillsFuture training programmes.

Fresh graduates facing difficulties finding employment can utilise the Graduate Industry Traineeships, or GRIT, scheme as an alternative entry point into the workforce that enables them to gain industry-relevant skills and experience, MOM said.

Eligible involuntarily unemployed individuals can receive temporary financial support of up to S$6,000 (US$4,690) over six months via the SkillsFuture Jobseeker Support scheme while they are looking for jobs, the ministry added.