{"id":14093,"date":"2025-11-24T11:47:38","date_gmt":"2025-11-24T03:47:38","guid":{"rendered":"https:\/\/sgbuzz.com\/?p=14093"},"modified":"2025-11-24T11:47:38","modified_gmt":"2025-11-24T03:47:38","slug":"seven-industries-have-cut-20000-jobs-this-year-mti-data-shows","status":"publish","type":"post","link":"https:\/\/sgbuzz.com\/?p=14093","title":{"rendered":"Seven industries have cut 20,000 jobs this year, MTI data shows"},"content":{"rendered":"


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The IT and real estate sectors are among those affected by job cuts<\/strong><\/h2>\n

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<\/a>.<\/em><\/p>\n

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\u2019s 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).<\/p>\n

\"singapore\"singapore<\/a>
Image Credit: Ministry of Trade and Industry<\/figcaption><\/figure>\n

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.<\/p>\n

Changes in employment by sector<\/strong><\/h2>\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Industry<\/th>\nQ1 2025<\/th>\nQ2 2025<\/th>\nQ3 2025<\/th>\nTotal in 2025<\/th>\n<\/tr>\n<\/thead>\n
Real Estate<\/td>\n-700<\/td>\n-2,500<\/td>\n-1,200<\/td>\n-4,400<\/mark><\/strong><\/td>\n<\/tr>\n
Information & Communications<\/td>\n-1,600<\/td>\n-1,700<\/td>\n-800<\/td>\n-4,100<\/mark><\/strong><\/td>\n<\/tr>\n
Professional Services<\/td>\n-1,200<\/td>\n-2,600<\/td>\n-300<\/td>\n-4,100<\/mark><\/strong><\/td>\n<\/tr>\n
Retail Trade<\/td>\n-2,400<\/td>\n-2,300<\/td>\n900<\/td>\n-3,800<\/mark><\/strong><\/td>\n<\/tr>\n
Wholesale Trade<\/td>\n700<\/td>\n300<\/td>\n-2,900<\/td>\n-1,900<\/mark><\/strong><\/td>\n<\/tr>\n
Education<\/td>\n100<\/td>\n100<\/td>\n-1,100<\/td>\n-900<\/mark><\/strong><\/td>\n<\/tr>\n
Food & Beverage Services<\/td>\n-100<\/td>\n-1,200<\/td>\n700<\/td>\n-600<\/mark><\/strong><\/td>\n<\/tr>\n
Accommodation<\/td>\n100<\/td>\n-300<\/td>\n1,000<\/td>\n800<\/td>\n<\/tr>\n
Administrative & Support Services<\/td>\n1,100<\/td>\n3,500<\/td>\n-2,700<\/td>\n1,900<\/td>\n<\/tr>\n
Arts, Entertainment & Recreation<\/td>\n-200<\/td>\n900<\/td>\n1,400<\/td>\n2,100<\/td>\n<\/tr>\n
Public Administration & Defence<\/td>\n1,500<\/td>\n100<\/td>\n800<\/td>\n2,400<\/td>\n<\/tr>\n
Transportation & Storage<\/td>\n2,400<\/td>\n600<\/td>\n500<\/td>\n3,500<\/td>\n<\/tr>\n
Manufacturing<\/td>\n-400<\/td>\n900<\/td>\n5,400<\/td>\n5,900<\/td>\n<\/tr>\n
Health & Social Services<\/td>\n3,000<\/td>\n1,800<\/td>\n2,200<\/td>\n7,000<\/td>\n<\/tr>\n
Financial & Insurance Services<\/td>\n2,500<\/td>\n5,700<\/td>\n2,100<\/td>\n10,300<\/td>\n<\/tr>\n
Other Services<\/td>\n3,500<\/td>\n3,800<\/td>\n9,700<\/td>\n17,000<\/td>\n<\/tr>\n
Construction<\/td>\n-1,000<\/td>\n5,800<\/td>\n13,700<\/td>\n18,500<\/td>\n<\/tr>\n
TOTAL<\/td>\n6,900<\/td>\n12,900<\/td>\n29,900<\/td>\n49,700<\/td>\n<\/tr>\n<\/tbody>\n<\/table>
Source: Economic Survey of Singapore, Third Quarter of 2025. \/ Ministry of Trade and Industry<\/figcaption><\/figure>\n

What\u2019s worse, most of the net growth industries (with a notable exception of Finance & Insurance<\/em>) are at the lower end of the pay scale. Construction and migrant domestic workers make up the majority of new hires this year.<\/p>\n

Meanwhile, high-value sectors employing qualified locals like IT, professional services, trade, or even real estate\u2014clearly affected by the cooling measures enacted by the government to tame housing inflation\u2014are bleeding thousands of jobs.<\/p>\n

While MTI does not provide a detailed breakdown of employees\u2019 residency status per industry, it\u2019s quite clear which of them are dominated by locals and expats, and which employ mostly low-cost, temporary migrants or, at best, mid-level S-Pass holders working in support roles.<\/p>\n

Information & Communications<\/em> is a particularly interesting case, after otherwise positive news for the industry in Singapore reported earlier this year<\/a>, with rising salaries and seemingly growing demand for talent as well (despite layoffs sweeping the rest of the world).<\/p>\n

In practice, however, it is seeing a significant net reduction in employment\u2014over 4,000 people this year and a total of 9,500 if we include 2024 as well\u2014despite frequent complaints about a deficit of candidates<\/a>.<\/p>\n

Some consolation may be found in the observation that tech workers do not necessarily have to work in tech companies, as employers in other businesses have a burning need for qualified IT staff, too.<\/p>\n

Other findings point to changing demands for specific tech skills, which may have led to reductions in some functional areas and deep, yet-to-be-filled gaps in others (like AI or anything that deals with data), explaining the reported lack of good applicants.<\/p>\n

\"tech\"tech<\/a>
Image Credit: IMDA<\/figcaption><\/figure>\n

Whatever it is, the fact remains that the headcount of the IT sector in Singapore has shrunk by nearly 10,000 people over the past two years. Even if most of them have found work elsewhere, it suggests problems in the technology industry.<\/p>\n

Fortunately, not everybody has reasons to worry\u2014especially those in Finance & Insurance Services<\/em>, which are continuing their relentless climb, adding 10,300 workers this year, making up for some of the losses in other branches of the economy. Perhaps some of the new hires moved over there from IT.<\/p>\n

That said, growing employment in banks does not seem to be enough to offset cuts in other places, and not everybody has the skills or even the desire to work in one of the big corporations. The economy needs a healthy diversity of career options, which, unfortunately, appear to be shrinking in Singapore this year.<\/p>\n