With the start of 2025, we are moving into the latter half of the decade that began with a historic pandemic. Fortunately, Singapore’s economy has seen significant improvement this year, with stable prices and robust economic growth expected. The real GDP growth is projected to reach 3.5% or more, a positive outcome for a highly developed economy.
Looking ahead to the next year, the forecast for Singapore remains optimistic, with a growth expansion of 2.5% or more, which is likely to boost employment opportunities as well. According to ManpowerGroup, a recent report on the local labor market shows that 45% of employers are planning to increase hiring in the first quarter of 2025, while only 20% expect a decrease. This results in a positive net employment outlook of +25%, indicating more job opportunities than expected.
Breaking down the data further, larger companies, especially those with up to 5,000 employees, are leading the way in hiring. Industries like transportation are particularly optimistic, with a net of 67% of businesses looking to hire in the coming months. Other industries such as healthcare, finance, consumer goods, communications, and IT also report above-average employment outlooks.
On the flip side, the energy and utilities sector continues to show a significantly negative employment outlook. Meanwhile, a recent survey by Randstad reveals that sales and business development roles are in high demand among businesses looking to capitalize on the positive economic outlook in Singapore.
The Ministry of Manpower’s reports on hiring trends in Q3 also show positive signs, with an increase in resident hires in sectors like IT, professional, and financial services. Overall, 2025 is expected to be a year where larger employers will focus on capitalizing on the local economic growth by hiring individuals who can drive new business and enhance technological competitiveness.
While artificial intelligence is on the radar for some companies, it is not yet having a significant impact on hiring decisions. The year 2025 does not appear to be the time when jobs will be lost to AI-powered chatbots. As the economy continues to improve, there are plenty of opportunities for job seekers in Singapore in the coming year.
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