Singapore’s labour market has a new vulnerable group – credentialled workers
As retrenchments hit their highest level since the pandemic, PMETs, degree holders and workers in their 50s are bearing the brunt.
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Many PMETs and degree holders have been getting retrenched and many don’t find it easy to land new jobs, says the writer.
ST PHOTO: LIM YAOHUI
The latest Labour Market Report from the Ministry of Manpower (MOM) reveals that, at 4,620 in the second quarter of 2026, job retrenchments in Singapore were at their highest level since the Covid-hit last quarter of 2020. This is despite the fact that the economy grew by a robust 5.9 per cent year on year in the second quarter.
But what is striking is which groups are the most affected. By age group, the worst hit were workers in their 50s, while by occupational group the biggest blow fell on professionals, managers, executives and technicians (PMETs), and by educational qualifications it was degree holders.