More contract hiring, higher foreign labour costs: The trends shaping Singapore’s manpower landscape in 2026
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A rise in contract roles is expected in Singapore's labor market by 2026, as hiring sentiment cools amid economic uncertainties. DBS senior economist Chua Han Teng notes that firms are adopting a cautious approach due to ongoing global economic and trade policy challenges. He predicts a slight increase in the unemployment rate to 2.2% in 2026, up from 2% in 2025, reflecting the cautious hiring environment.
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