Singapore’s job market experienced a notable setback in July 2025, with job postings dropping by 4.8%, marking the steepest decline since February 2023. According to the latest data from Indeed, a global job search platform, this downturn reflects a broader cooling of hiring activity, with postings now 17.8% lower than they were a year ago. While the city-state’s labor market remains robust compared to pre-pandemic levels, the sharp drop raises questions about the resilience of its economy amid global uncertainties.
Sectoral Shifts: Healthcare and Tech Hit Hardest
The decline in job postings was not uniform across industries. Sectors such as healthcare and technology, which had been pillars of growth in recent years, recorded significant drops since April 2025. Personal care and home health roles saw a staggering 32.9% reduction in job ads, while dental positions fell by 31%. Childcare roles declined by 26.7%, and scientific research and development postings dropped by 24.6%. In the tech sector, IT infrastructure, operations, and support roles decreased by 22.4%, with data and analytics following at 19.6%.
These declines contrast with gains in other areas of the economy. Hospitality and tourism, for instance, saw a robust 29.8% increase in job ads since April 2025, reflecting a recovery in travel and leisure as global mobility improves. Civil engineering postings rose by 15.6%, while sports-related roles grew by 10.7%. Installation and maintenance, as well as legal positions, also saw modest increases of 9.5% and 9.0%, respectively. 
Interestingly, some sectors have not only recovered but surpassed their pre-pandemic hiring levels. Sports job postings, for example, are now 173% higher than before the pandemic, while pharmacy and education roles stand at 122% and 117% above those benchmarks, respectively. These figures suggest that while certain industries struggle, others are finding new momentum in a post-pandemic landscape.
Overall Hiring Remains Strong Despite Decline
Despite the downward trend in job postings, Singapore’s labor market retains a degree of resilience. Indeed’s report highlights that the overall number of positions being filled is still 36% higher than pre-pandemic levels. Government data corroborate this stability, showing the unemployment rate holding steady at a low 2.1%.
Callam Pickering, Indeed’s APAC senior economist, offered a measured perspective on the situation. “The post-pandemic job boom in Singapore was so large that job postings could fall for three years and job creation would still be strong enough to keep the unemployment rate low” he noted in a statement on July 2025. He emphasized that even with the recent decline, hiring activity remains healthy compared to historical norms.
However, there are signs of caution among employers. Government data indicate that hiring expectations for the third quarter of 2025 have dipped slightly, reflecting concerns about global economic headwinds. Singapore, as a small, trade-dependent economy, is particularly vulnerable to fluctuations in international markets, and businesses appear to be adopting a wait-and-see approach before committing to significant workforce expansions.
Pay Transparency: A Declining Trend
Alongside the drop in job postings, another concerning trend emerged in July 2025: a decline in pay transparency. Indeed’s report found that only 21% of job postings disclosed salary information, a significant decrease from the 30% average observed between 2023 and 2024. This shift could impact employers’ ability to attract top talent in a competitive labor market.
Certain occupation groups demonstrated higher levels of pay disclosure. Drivers led with 64.2% of postings including salary details, followed by beauty and wellness at 60.6%, and cleaning and sanitation at 53.3%. Sports and dental roles also showed relatively high transparency, with 53.1% and 47.4% of ads revealing pay, respectively.
In contrast, sectors such as banking and finance, IT systems and solutions, social science, software development, and industrial engineering lagged behind, with disclosure rates as low as 8.5% to 10.5%. This reluctance to share salary information may reflect cultural or strategic considerations within these industries, where compensation is often negotiated privately or tied to complex bonus structures.
Pickering underscored the importance of pay transparency as a tool for attracting candidates. “Pay information can often be critical to attracting candidates, and those employers who feature that information may enjoy a competitive advantage in what continues to be a tight labor market” he advised in his statement. As Singapore’s job market cools, employers may need to reconsider their approach to transparency to remain competitive.
Economic Context and Global Uncertainties
The decline in job postings must be viewed within the broader context of Singapore’s economic environment. The city-state has long been a hub for finance, technology, and trade in Southeast Asia, benefiting from its strategic location and business-friendly policies. However, its reliance on global markets makes it susceptible to external shocks, such as rising interest rates, geopolitical tensions, and supply chain disruptions.
In recent years, Singapore has navigated these challenges with relative success, bolstered by government initiatives to support businesses and workers during the pandemic. Wage subsidies, training programs, and infrastructure investments have helped maintain low unemployment and sustain hiring activity even as other economies faltered. Yet, the latest data suggest that the momentum of the post-pandemic recovery may be waning.
Analysts point to several factors contributing to the current slowdown in job postings. First, the global tech sector, a significant driver of employment in Singapore, has faced headwinds due to reduced venture capital funding and cost-cutting measures by major firms. This has directly impacted hiring in IT and related fields, as evidenced by the sharp declines in job ads for roles like IT infrastructure and data analytics.
Second, healthcare, another key sector, may be experiencing a normalization after a surge in demand during and immediately after the pandemic. The steep drop in personal care and home health postings could reflect a return to pre-crisis staffing levels, though demographic trends—such as an aging population—suggest that long-term demand for such roles will remain strong.
Third, global economic uncertainty is prompting employers across industries to adopt a more cautious stance. With inflation pressures persisting in many parts of the world and central banks tightening monetary policy, businesses in Singapore are likely reevaluating their growth plans. This caution is evident in the slight dip in hiring expectations for the third quarter, as reported by government sources.
Looking Ahead: Balancing Caution and Opportunity
As Singapore grapples with these challenges, the government and private sector will need to work together to sustain the labor market’s resilience. Policies aimed at upskilling workers, particularly in emerging fields like green technology and digital transformation, could help offset declines in traditional sectors. Additionally, incentives for businesses to maintain or increase hiring—such as tax breaks or grants—may encourage more robust job creation.
For workers, the evolving job market presents both challenges and opportunities. While certain industries contract, others, like hospitality and civil engineering, are expanding, offering pathways for career transitions. However, the decline in pay transparency could complicate job searches, as candidates may struggle to assess whether roles align with their financial expectations.
At a broader level, Singapore’s experience reflects a global trend of recalibration after the unprecedented disruptions of the pandemic. The city-state’s ability to adapt to these shifts will be crucial in maintaining its position as a leading economic hub in the region. For now, the labor market remains strong by historical standards, but the road ahead is uncertain.
As employers and policymakers navigate this cooling period, the question looms: will Singapore’s job market rebound with the same vigor it showed post-pandemic, or are deeper structural challenges on the horizon?
