Real income in Singapore grew 4.3% this year, higher than last year’s 3.2%, indicating a steady labor market despite increasing external uncertainties.
The growth rate was recorded among resident workers at the median wage level, according to data released by the Ministry of Manpower Friday.
People walk out for their lunch break in the Raffles Place financial business district in Singapore on February 16, 2023. Photo by AFP |
“Singapore’s labor market held up well in 2025, with real incomes rising, labor underutilization remaining low, and most employees in permanent employment,” it said.
The share of workers in permanent roles rose to a record high of more than 90%.
“This gives the sense that they are in quality-type of jobs that are relatively more stable,” Ang Boon Heng, director of manpower research and statistics at the Ministry of Manpower, told reporters Wednesday, as reported by The Straits Times.
Lower-wage workers also recorded gains, with real incomes rising 3.8% for those in the bottom 20% income group.
The ministry also said that low underutilization (which encompasses both unemployment and under-employment) and low resident unemployment show that “the labour market conditions remain firm even as hiring momentum moderates.”
Singapore’s labour force participation rate has largely held steady despite an ageing population, though it has edged down over four consecutive years, from 70.5% in 2021 to 67.9% this year.
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