Singapore recorded 4,800 retrenchments from July to September 2026, up 3.9% from 4,620 in the previous quarter and the highest level since late 2020, preliminary data showed. The seasonally adjusted unemployment rate rose to 2.0% from 1.9%, which was the lowest since the fourth quarter of 2024. Total employment increased by 27,700, compared with 11,400 in the previous quarter and 25,100 a year earlier, with non-residents accounting for most of the gain, particularly in construction and manufacturing. Layoffs increased mainly in outward-oriented sectors, while business reorganisation remained the leading reason for retrenchments. The retrenchment rate stayed at 2.0 per 1,000 employees, while resident and citizen unemployment rose to 3.0% and 3.1%, respectively. Employer expectations for hiring and wage increases over the next three months improved but remained below July levels, while the share expecting retrenchments rose to 3.1%. The Ministry of Manpower said higher expected and actual layoffs pointed to weaknesses requiring close monitoring, with fuller third-quarter labour market data due in mid-December 2026. Separately, the Straits Times Index fell 19.29 points, or 0.4%, to 5,376.74 on Friday after trading between 5,365.13 and 5,406.25. Sheng Siong Group’s shares fell nearly 5% despite higher attributable profit, Seatrium declined nearly 1% after securing an FPSO integration contract worth over SG$200 million, and CapitaLand Ascendas REIT gained more than 1% as portfolio occupancy rose to 90.1%.