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More Singapore firms to hire in early 2025, wage hikes also expected

More Singapore firms to hire in early 2025, wage hikes also expected

Danny Romero
| January 29, 2025

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More companies in Singapore are planning to expand their workforce in early 2025, with a poll by the Ministry of Manpower in December showing 46% expect to hire more workers. This was higher than the 43% figure from the poll in September.

Wage increases are also set to rise, with 32% of firms planning raises—double the 16% reported in the September poll. But, as global economic uncertainty persists, the ministry says employers and workers need to press on with transformation and upskilling to adapt to changes and seize new opportunities.

“Employers need to maximise the potential of their employees by investing in human capital development,” the ministry stated in a press release. “To maintain Singapore’s economic competitiveness and complement our resident workforce, we will need to remain open to foreign investments and global talent, which will in turn generate more opportunities for local businesses and quality jobs for Singaporeans.”

The poll was part of Singapore’s labour market report which also showed total employment growth slowed from 22,300 to 8,700 in Q4, though it was still higher compared to a year ago in Q4 2023 (3,900).