​​​Advance estimates showed early signs of moderating labour demand, amid slowing economic growth and increasing headwinds from escalating global trade conflicts. Unemployment rates have risen slightly since December 2024, and the pace of employment growth has slowed compared to previous quarters due to smaller increases for both residents and non-residents. The moderation in labour demand was more evident in some outward-oriented sectors. Looking ahead, the labour market is expected to soften further. Business sentiments have turned more cautious in March 2025, compared to the more optimistic outlook in December 2024.

For more information, please refer to the full Labour Market Advance Release First Quarter 2025​ ​report.​