APAC Labour Market Insights - January 2025

APAC Monthly Commentary - January 2025

This commentary builds upon the State Of The Labour Market newsletter, with APAC-specific data and commentary on the global metrics that have been shared there.

Hiring stabilises across key APAC economies; labour markets rebalance

The hiring rate in India stabilised throughout 2024, and showed some increase towards the end of 2024. After nearly 3 years of loosening, the labour market also showed signs of tightening in late 2024. These shifts indicate that the demand for talent is starting to grow, possibly driven by increased business activity and growth of certain sectors in the country. If sustained, a tighter labour market could result in upward pressure on wages and improved job opportunities for candidates in high-demand fields.

In Australia and Singapore, hiring slowed throughout 2024 but at a much more moderate pace compared to 2022 and 2023. This points towards to a more measured approach by businesses in response to economic conditions, and suggests that companies are adjusting to market movements while maintaining cautious optimism for future growth in 2025.

Job seeking expected to rise in 2025

Even as talent demand begins to rise, job competition is expected to continue as more professionals seek out new job opportunities. Globally, 58% of professionals are looking for a new job in 2025, and this is even higher in APAC, with Australia slightly above at 59%, Singapore further up at 68%, and India topping the list at 82%.

This heightened job mobility in APAC could create both challenges and opportunities for employers. Companies will need to focus on retention strategies, including competitive salaries, career development opportunities, and workplace culture, to attract and retain top talent in an increasingly dynamic job market.