2026+全球薪资回顾+Global+Wage+Review

200

2026GlobalWage

Review

ALLEGIS

GLOBALSOLUTIONS

TheHumanEnterprise

NB3151919H

HW1882425

中国

Introduction

Thegloballabormarketcontinuesitstransitionawayfromthe

extremevolatilityofthepost-pandemicperiod,withwagegrowthin2025reflectingamorecomplexandunevensetofdynamicsacrossregions.Whileinflationpressureseasedinmanyeconomies,laborsupplyconstraints,demographicshifts,productivitygainsand

evolvingtraderelationshipscontinuedtoexertupwardpressureonwagesworldwide.

Atthesametime,geopoliticaluncertainty,tariffimpactsandcurrencymovementsintroducednewlayersofvariability,shapinglaborcostcompetitivenessdifferentlybymarket,sectorandskilllevel.

Together,theseforcesmarked2025asayearofnormalization,butnotstabilization,withinthegloballabormarket.

TheAllegisGlobalSolutions2026GlobalWageReviewexamines

thesetrendsacrossmajorlabormarketsinNorthAmerica,Latin

America,EuropeandAsiaPacific(APAC).DrawingonacombinationofpubliclyavailableeconomicindicatorsandproprietaryAllegis

GlobalSolutionsAcumenIntelligentWorkforcePlatformbusinessintelligenceandbenchmarkingdata,thisreportprovidesagroundedviewofwagemovementsasexperiencedbymultinationalemployersoperatinginreallabormarkets.AllegisGlobalSolutionsdataoffersa

uniquelensintobillrates,payprogressionandrole-levelwage

dynamicsacrosskeylaborcategories,includingIT,engineering,light

industrial,professionalservices,andhealthandlifesciences,

allowingforinsightsthatextendbeyondheadlinenationalaverages.

I

Acrossregions,severalcommonthemesemerge.Wagegrowthmoderatedinmanydevelopedeconomiesasinflationcooledandhiringactivityslowed,yetremained

supportedbypersistenttalentscarcityincriticalskillareas.Emergingmarketscontinuedtopoststrongernominalwagegains,drivenbyoffshoringdemand,nearshoringinvestmentandcompetitionforexperiencedtalent,evenascostadvantagesnarrowedinsomelocations.Meanwhile,acceleratingadoptionofautomationandAlis

reshapingdemandbysillevel,increasinglyconcentratingwagepressureamongsecialzedandmidlevelroleswhilereducinggrowthoppotunitiesatheentrylevel.

Throughout2026,theglobalwageenvironmentisexpectedtoremainhighlydifferentiated.Employersfacethedualchallengeofmanaginglaborcostpressureswhile

maintainingaccesstoscarcecapabilitiesinanenvironmentdefinedbyeconomicuncertaintyandstructuralworkforcechange.Thisreportisdesignedtosupportworkforce

leaders,procurementteamsandtalentstrategistswithactionableinsightsintowherewagerisksarerising,wherecostcompetitivenessremainsintactandhowlabormarket

dynamicsarelikelytoevolveintheyearahead.

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NorthAmerica

WagegrowthinboththeUnitedStatesandCanadamoderatedin2025aslabormarketsmovedfurtherawayfromthepost-pandemicvolatilityofprioryears.Whileeconomicconditionssoftenedandgrowthwasunevenacrosssectorsandregions,wagescontinuedtorise,supportedbypersistentlaborsupplyconstraints,

productivitygainsandinflationremainingabovecentralbanktargets.

Atthesametime,shiftingtradedynamics,tariffimpactsandcurrencymovementsintroducednewsourcesofuncertaintythatinfluencedhiringandcompensationdecisionsdifferentlyacrossthetwomarkets.ThefollowingsectionsexaminewagegrowthtrendsacrosstheUSandCanadain2025,withafocusonsector

performance,labordynamicsandimplicationsforrealwagegrowthin2026.

UnitedStates

Overthecourseof2025,USaveragehourlyearningsforallemploveesgrewby3.7%,downfrom4.5%in2024.WhiletheUSlabormarketandoveralleconomic

growthsoftenedin2025,wagescontinuedtorise,drivenbythreeprimaryfactors:

1.DemographicShifts

Thecivilianlaborforcegrewby1.8%in2025,howeve,muchofthatgrowthoccurredinJanuary.FromFebruarythroughDecember,laborforcegrowth

slowedtojust0.5%.Whencombinedwithelevatedretirementlevelsandan

unemploymentratebelowhistoricalaverages,laborsupplyconstraintspersistedthroughouttheyear.

2.IncreasingProductivity

Priortothepandemic,productivitygainsweremodest.Duringthepandemic,

productivityacceleratedasorganizationsautomatedprocessesandredesigned

work.Thistrendcontinuedin2025andwasfurtheramplifiedbyAladoption,

enablingworkerstooperatemoreefficientlyandsupporthigherwagelevels.

3.Inflation

InflationremainedabovetheFederalReserve's2%targetin2025.Aslongasthe

pricelevelsstayelevated,wagegrowthpressuresarelikelytopersistasworkersseektomaintainrealpurchasingpower.

Byindustry,thestrongestwagegrowthin2025occurredinIT(5%),retailtrade(4.8%)anddurablegoodsmanufacturing

(4.7%).Theweakestwagegrowthwasobservedinmiinng/

logging(2.3%),privateeducationandhealthservices(2.6%),andtransportationandwarehousing(3.3%)

ALookatAGS'MajorLaborCategories

IT/Technology:Wagegrowthreboundedin2025,drivenlargelybyincreaseddemandtiedtoAl-relatedinvestments.Whilelabordemanddeclinedin2024,hiringpickedupin2025assector-

specificunemploymentratesfell.

LightIndustrial:Lightindustrialexperiencedthesecond-highestwagegrowth,withmedian

weeklyearningsrising4.3%in2025,upfrom2.9%in2024.Wagegrowthpersisteddespitejob

lossesacrossmanufacturingandtransportation/warehousing.Thislaborcategorycontinuestofacelong-termworkforcedeclines.Wagepressuresmayextendinto2026astariffsspurUS

manufacturinginvestment,evenasmanynewfacilitiesremainunderdevelopment.

Engineering:Wagesincreased3%in2025,downfrom4.9%in2024.Layoffsinmanufacturing,particularlywithinautomotive,temperedwagegrowth.Likelightindustrial,engineeringdemand

couldstrengthenin2026ifannouncedmanufacturinginvestmentsmaterialize.

ProfessionalServices:Professionalservicesreboundedin2025,withmedianweeklyeaningsrising3%,comparedto-5.8%in2024and10%growthin2023.Whilehiringactivityremained

subdued,wagevolatilityappearstohavemoderated.Wagegrowthmaycontinuein2026ifAl

augmentsworkerproductivity,however,broaderworkerdisplacementcoulddampenfuturewagegrowth.

Scientific/Healthcare:Earningsdeclined1.4%in2025,following4.5%growthin2024.

Scientificroleswerepressuredbyslowergrowthinlifesciencesduetoregulatorychallengesanddecliningdrugprices.Healthcarejobgrowthremainedstrongbutwasconcentratedinlower-

wagenursingandcarefacilityrolescomparedtoprioryears.

Realwagesgrewby1%in2025,unchangedfrom2024.Inflationaveraged2.7%,remainingabovetheFederalReserve's2%target,thoughdownfrom2.9%in2024.

Inflationisexpectedtoremainelevatedabovetargetin2026asinterestratecutstakeeffectandtheimpactoftariffscontinuestoflowthroughtheeconomyatvarying

pointsintime.Higherinflation,continuedproductivitygains,andshiftingdemographicdynamicsareexpectedtoremainkeydriversofwagegrowthin2026.

Canada

Canadianaveragehourlywagesincreasedby3.4%in2025,slowingfrom4.4%growthin2024.LiketheUS,Canadianeconomicgrowthwasuneventhroughouttheyear,drivenlargelybychangesinglobal

traderelationships.Despitevolatility,theCanadianlabormarkethas

largelystabilized.

Thesectorsexperiencingthestrongestaveragehourlywagegrowthin2025were:

·Education,legal,social,communityandgovernmentservices:6%

·Manufacturingandutilities:4.6%

·Business,financeandadministration:4.6%

Sectorswiththeweakestwagegrowthinclude:

·Naturalresourcesandagriculture:0.2%

·Art,culture,recreationandsport:2%

·Tradeandtransport:3.9%

AcrossAllegisGlobalSolutions'laborcategories,averagehourly

wageswithinTemporaryHelpServicesgrewmoreslowlyin2025

comparedto2024,increasing2.8%versus5.8%theprioryear.

Economicuncertaintyandastabilizinglabormarketcontributetothisslowerwagegrowth.

ALookatAGS'MajorLaborCategories

Engineering:Wagesreboundedin2025,withaveragehourlyearningsincreasing5%,upfrom0.5%in2024.WhileUStariffscontinuedtoweighonmanufacturingsectorgrowth,thesectorremainedresilient,supportingrenewedwagemomentumforengineeringroles.

LightIndustrial:Thelightindustriallaborcategoryexperiencedthe

secondhighestwagegrowthin2025at4.6%,upfrom3.8%in2024.

Likeengineering,theseroleswereimpactedbytariff-related

uncertaintybutwereabletoweatherthedisruption.

ProfessionalServices:Wagesincreased4.6%in2025,markingthe

third-highestgrowthrateamonglaborcategories.Strongmomentum

from2024(4.3%)carriedinto2025asdemandforprofessionalservicestalentcontinuedtoexpand.

Health/LifeSciences:Wagegrowthreached4.2%in2025,

acceleratingfrom2.4%in2024.Increasedhealthcarespending,withCanadaallocating12.7%ofGDPtohealthcarein2025,up0.3

percentagepointsfrom2024,supportedstrongerwagegrowthacrossthislaborcategory.

Canadianrealwagesincreasedbyapproximately1.3%in2025,downfromroughly2.0%growthin2024.Annualizedinflationdeclinedby0.3percentagepointscomparedtotheprioryear.However,theinflationoutlookfor2026remainsuncertainastraderelations

betweenCanadaandtheUScontinuetoshift.Thisongoingvolatilityintroducesuncertainty

anddriveshighercoststhroughtheeconomyatdifferentpointsintime.

TheCanadianDollaralsoappreciatedagainsttheUSdollarin2025,narrowingthecost

advantageofhiringinCanadarelativetotheUS.Amidheighteneduncertaintyandmixedeconomicgrowth,wagegrowthinCanadaisexpectedtomoderatein2026,increasingataslowerpacethanin2025.

LatinAmerica

WagegrowthacrossLatinAmericaremainedelevatedin2025butshowedsignsofmoderationaseconomicconditions,inflationdynamicsandcurrentmovements

divergedacrosstheregion.Mexico,BrazilandArgentinaexperiencedvaryingdegreesofwagegrowthdrivenbyacombinationoftradepressures,monetarypolicyshiftsanddomesticeconomicreforms.

Whileinflationeasedmeaningfullyinpartsoftheregion,currencyfluctuationsandpolicychangescontinuedtoinfluencelaborcostsformultinationalemployers.The

followingsectionsexaminewagegrowthdevelopmentsinthesemarkets,highlightinghowsectorexposure,inflationtrendsandcurrencydynamicsareinfluencinglabor

costcompetitivenessasorganizationsplanfor2026.

Mexico

Mexicanaveragehourlywagesincreasedby6.9%in2025,withnominalhourlyearningsrisingfrom$4.23USDto$4.52USD*.Wagegrowthslowedcomparedto2024 (7.7%)aseconomicgrowthweakenedduetoUStariffsandinternalpoliticalchallenges.Themanufacturingsectorwasparticularlyhardhitbytariffs,enteringarecessioninthethirdandfourthquartersof2025.Asaresult,manufacturingwageqrowthdeceleratedsignificantly,increasing15.8%in2025comparedto24.4%in2024

Overthepastyear,theMexicanpesoappreciatedmodestlybutconsistentlyagainsttheUSdollar,makinghiringinMexicoslightlymoreexpensiveformultinationalemployers.Despitethisappreciation,laborcostsinMexicoremainsubstantiallylowerthaninmoredevelopedmarkets.

*DateofUSDconversion:Jan1,2026

Argentina

Argentinianaveragemonthlywagesincreased15%in2025,withnominalearningsriskingfrom$1,138USDinJanuaryto$1,308USD*inNovember.Whilethisrepresentsstronggrowth,itisasignificantslowdownfrom2024,

whenaveragemonthlywagesincreasedby84%.

InflationdeclinedsharplyinArgentina,fallingfromanannualizedrateof

117%in2024to31%in2025.Duringthesameperiod,theArgentinianpeso

depreciatedagainsttheUSdollar,reducinglaborcostsformultinationalcompaniesandmakingArgentinaamorecost-competitivehiringmarket

despiteongoingeconomicvolatility.

Brazil

Brazilianaveragemonthlyincomeroseby4.9%in2025,increasingfrom

$661USDto$694USD*.nFebruary2026,theminimummonthlywagewasraisedfrom$292USDto$311USD*representinga6.6%increase.TheBrazilianrealappreciatedagainsttheUSdollarin2025,contributingto

higherlaborcosts.However,wagesinBrazilremaincomparativelylow

relativetootherdevelopedcountries.

*DateofUSDconversion:Jan1,2026

Europe

WagegrowthacrossEuropemoderatedin2025despitehistoricllylowunemployment,markingaclearshiffromthestrongergainsobservedin2024.InQ32025

hourlylaborcostsincreasedby3.3%intheeuroareaand3.7%intheEuropeanUnion.Thisdeclarationreflectseasinginfationarypesures,withininfationexpectedto

remainclosetotheEuropeanCentralBank'stargetthrough2026.Whilecompetitivewagepressureshavesoftened,employerscontinuetofacerisinglaborcostsdrivenbyminimumwageincreases,manyofwhichtookeffectacrosscountriesinJanuary2026.

UnitedKingdom

ConsistentwithbroaderEuropeantrends,wagegrowthintheUnitedKingdomslowedin2025aslabormarketconditionscooledandunemploymentrosetoafive-yearhighof5.2%.Despitethismoderation,minimumwagescontinuedtoincreaseacrossagegroups.Ratesforworkersaged21andoverare

expectedtoriseby4.1%,whileminimumwagesforthoseaged18-20aresettoincreasemoresharply,by

8.5%.

Asaresultoftheseminimumwageincreases,wagegrowthremainsmostpronouncedinentry-levelroles,atrendalsoreflectedinourbenchmarkdata.AcrosstheAllegisGlobalSolutionsportfolio,entry-level

positionswithinthelightindustrialsectorexperiencedthehighestrateincreasesin2024and2025.Atthesametime,risinglaborcostsandheightenedeconomicuncertaintyarepromptingmany

organizationstoreassesshiringstrategies,withagrowingpreferenceformoreexperiencedtalent.

AllegisGlobalSolutions'benchmarkingdatareinforcesthistrend,showingagrowingconcentrationofmid-levelroles,particularlywithin:

●Engineering:33%ofrolesclassifiedasmid-level

·IT:27%ofrolesclassifiedasmid-level

·ProfessionalServices:25%ofrolesclassifiedasmid-level

Aswagegrowthcoolsandcost-of-livingpressurespersist,employersareincreasinglyemphasizing

benefitsandworkplaceflexibilityoversalaryincreasestoattractandretaintalent.Concurrently,decliningavailabilityofentry-levelrolesislikelytoreshapeearly-careerpathways.Withfewertraditionalentry-levelopportunities,higher-levelapprenticeshipmodelsmaygaintraction,particularlyasapprenticescanearnupto15%morethanuniversitygraduatesfiveyearsintotheircareers.

Germany

WhilenegotiatedwagesinGermanyreached6%in2024,moremoderategrowthisexpectedin2026.Wages

increased4%inQ42025;however,Bundesbanknotesthatthisriselargelyreflectsinflationcompensation,bonusesand

payincreasesinmid-2024ratherthanrenewedwagemomentum.

Germany'seconomicrecoveryremainsunevenamidlingeringimpactsfromUStradepolicieswithmanufacturing,

particularlytheautomotivesector,experiencingthegreatestpressure.Globalautomotiveoutputdeclined8.8%inJanuary,highlightingcontinuedweaknessesacrossthesector.Despitethesechallenges,productionandmanufacturingroles

recordedsomeofthestrongestwagegrowth,increasing

4.1%.

Entering2026,policyandindustryfocushasbeencenteredonacceleratingadoptionofindustrialAltoimprove

productivityandGDPgrowth,alongsidesustained

investmentinenvironmentallysustainablemanufacturingtohelpoffsetstructurallyhighenergycosts.

Ireland

Despiteinflationstabilizingbetween1.9%and2.9%,wagegrowthinIrelandremainedresilientin2025asemployerscontinuedtoprioritizecompensationincreasestoattractandretaintalent.

Approximately85%oflrishemployersincreasedwagesin2025,withaveragepayrising3.6%,reflectingsustainedcompetitionforskillsevenasinflationarypressuresease.

Thismomentumisexpectedtocontinueinto2026,with80%ofemployersplanningfurtherwageincreasesaveraging3.1%.Recentearningsdatasupportsthisoutlook,withaverageweekly

earningsrising3.1%inthefinalquarterof2025,signalingongoingupwardpressureonlabor

costs.

Accommodationandfoodservicesrecordedthestrongestannualwagegrowthat6.8%,drivenbypersistentlaborshortagesinfrontlineroles.Thiswasfollowedbyfinancial,insuranceandreal

estate,wherewagesrose6.2%amidongoingdemandforspecialized,high-valueskillsets.

Additionalsectorscontributingtoupwardwagepressureinclude:

·Technology:Ongoingdemandforcybersecurity,DevOpsanddataengineeringtalent.

·Construction:Large-scalehousingandinfrastructureprojectssustaininglabordemand

·HospitalityandCatering:Ongoingstaffingshortagesintensifyingwagecompetition

TalentscarcityremainsakeyconstraintwithinIreland,withtwo-thirdsofbusinessesreportinghirinqchallenges,reinforcingtheneedforcompetitivemarketpricingtosecurecriticalskills.

EuropeanEmergingMarkets

WagegrowthacrossEurope'semergingmarkets,concentratedprimarilyinCentralandEasternEurope(CEE)andtheBaltics,continuedtoacceleratein2025astheseregionsexpandedtheirrolesasoutsourcingandnearshoringhubs.ndustrialgrowthincountriessuchasPoland,theCzechRepublic,

RomaniaandHungaryhaveincreaseddemandformanufacturingand

engineeringtalent,whiletheBalticshaveemergedascentersfordigital

transformationandhigh-skilltechnologyroles.Asaresult,wagegrowthinthesemarketsremainsamongthestrongestinEurope,reflectingbothrisingdemandandongoingconvergenceinpurchasingpower.

InQ32025,severalemergingmarketsrecordedhourlylaborcostincreases

wellabovetheEUaverage,ledbyBulgaria(12.4%),Lithuania(9.7%),Croatia(9.7%),Hungary(8.8%)andPoland(7.8%).Whiletheseincreasesare

notable,theyareoccurringfromarelativelylowbase,andlaborcostsin

thesemarketsremainhighlycompetitivecomparedtoWesternEurope.

NominalHourlyWageCost-Q3

%changeYoY

MinimumwageincreasesremainakeydriverofwageaccelerationacrossCEEmarkets,liftingentry-levelpayandraisingtheoverallwagefloor.InPoland,forexample,theminimumhourlyrateincreasedtoPLN31.40inJanuary2026(+3%YoY).Despitetheseincreases,laborcostscontinuetotrailWesternEuropebenchmarks,preservingtheregion'sattractivenessforsourcing.

Wagepressuresaremostpronouncedintechnology,manufacturingandengineering,wheredemandfordigitalandtechnicalskillscontinuestooutpacesupply.Aswagegrowthnarrowshistoricalcostadvantages,employersareincreasinglyshiftingtowardtargeted,role-basedpaystrategiesfocusedoncriticalskillsandproductivityratherthanbroad-basedincreases.

AsiaPacific

In2025,labormarketsacrossAPACreflectedawideningdivergence

betweenadvancedandemergingeconomies,shapedbyuneveninflationtrends,shiftingglobaltradedynamicsandacceleratingdemandfor

specializedskills.

DevelopedmarketssuchasAustraliaandSingaporesawwagegrowthre-

accelerateinnominaltermsbutremainconstrainedbyinflationpersistence,demographicpressuresandtighteninglaborsupply,particularlyinservice-

orientedandtechnology-adjacentroles.

Incontrast,emergingmarkets,includingIndia,VietnamandthePhilippines,

continuedtopostmateriallystrongerwagegains,drivenlessbycost-of-

livingpressuresandmorebysustainedoffshoringdemand,globalcapabilitycenter(GCC)expansionandgrowingcompetitionforexperiencedtalent.

Acrosstheregion,employersareincreasinglyprioritizingspecializeddigital,

engineeringandhealthcarecapabilities,whileentry-levelandgeneralist

rolesfacegreaterwagedifferentiationasAladoptionandproductivitygains

reshapehiringstrategies.Thesedynamicspointtocontinuedwagepressure

acrosscoreAPACdeliverymarketsin2026,withimplicationsforbothcost

forecastingandlong-termworkforcelocationstrategies.

Australia

Australianearningsgrowthremainedelevatedin2025butslowedfrom2024,whichhadmarkedareversalafteryearsofrealwagedeclinescausedbyinflation.Private-sectorwagegrowthaveraged3.7%with19%ofworkersreceivingapayincreasein2025,upfrom14%in2024.Inflationagainoutpacedwagegrowthat3.8%,resuming

pressureonrealincomeafteronlyashortperiodofrelief.

Industriesthatexperiencedsharpwageincreasesin2024,includingmining,manufacturingandconstruction,sawmoderategrowthin2025.Ongoingglobaltradetensionsconstrainedwageaccelerationinimportandexportreliantsectors,withmostrecordingwagegrowthnear3%.

Incontrast,healthcarehasreboundedfromits2024slowdown,posting4.4%wagegrowthascaregivershavebecomeincreasinglydificulttosourceacrossdevelopedmarkets.Utilitiesalsorecordedstrongwagegrowthof4.2%,drivenbyrisingdemandtiedtolarge-scaledatacenterinvestments.Significantcapitalinflowsfromglobaltechnologyfirmshaveintensifiedcompetitionforskilledengineersandtradeworkers,tighteningtalentpoolsacrossbothpublicandprivatesectors

In2026,service-orientedsectorssuchashealthcareandITareexpectedtodriveAustralia'swagegrowth,consistentwithtrendsacrossotherdevelopedeconomies.

AgingdemographicsandexpandingdemandforAl-relatedinfrastructurearelikelytosustainupwardpressureinthesesectors.Bycontract,Australia'sgoods-producingindustries,whichrepresentalargershareoftheeconomythaninmanypeermarkets,appeartobeslowingagain,withglobaltradebarriersposingadisproportionaterisktooveralleconomicmomentum.

India

IndiacontinuestoexhibitthestrongestwagegrowthamongmajorAsianeconomiesaswellasallAllegisGlobalSolutionsoperatingmarkets,withwagesrising9%in2025.Thisexceededpriorestimatesandextendedamultiyeartrendofwagegrowthexceeding8.5%annuallysince2021.Inflationmoderatedsharplytoroughly2%in2025,signalingthatwagegrowthisincreasinglydrivenbysustaineddemandfortalentratherthancost-of-livingpressures.

Risingdemandfromdomesticindustries,GCCsandexpandedoffshoringactivitycontinuestofuelcompetitionforexperiencedtalent,particularlyintechnology-drivenroles.Retentionhasbecomeatoppriorityforemployers,withvoluntaryattritionaccountingforroughly80%ofITsectorquitsin2025.Asaresult,

experiencedprofessionalsentered2026withstrongnegotiatingleverage.

Declininginflationpairedwithpersistentdemandsuggestslaborcostincreasesin2026willextendbeyondtraditionalcost-of-livingadjustments.Wagegainsremainhighlydifferentiatedbyexperiencelevel.Approximately200,000STEM"freshers"werehiredin2025,afigureexpectedtodeclineto150,000in2026,down

sharplyfromroughly400,000in2022.ThistrendreflectsrisingskillthresholdsasAladoptionautomatesmanyentry-leveltasks.

Employersincreasinglyprioritizespecializedcapabilities,includingdataanalytics,AlandadvancedprogramminglanguagessuchasJavaandPython,whilemoregeneralskillsetscontinuetoloseflavor.

GCCsledwagegrowthamongallsectorsin2025at10.4%,followedbyfinancialservices(10%)andlifesciences(9.7%).Goods-producingindustriesalsosaw

stronggains,withengineeringandmanufacturingwagesrising9.4%andautomanufacturing9.8%.Thesedynamicsareexpectedtopersistin2026,markinga

clearshiftfromprioryearsinwhichwageincreasesweremoreevenlydistributedacrossskilllevels.Asaresult,companiesshouldanticipategreaterwagepressureacrosscoreverticalsthaninpreviouscycles.

Singapore

Singaporeexperiencedasharpaccelerationinincomegrowthin2025,risingfrom1.4%in2024to5.4%.Thistranslatedintoaroughly4%increaseinrealpurchasingpower,reversingtheprioryear'sstagnation.Withpermanentemploymentrisingto90%andunemploymentfallingbelow3%,thesupplyofworkerswillingtoengageintemporaryroleshasdeclinedamidbroaderlabormarkettightening.

Adeclininglaborforceparticipationrate,combinedwithexpandingdemandfromglobaloffshoring,isexpectedtoplaceupwardpressureonwagesin2026.However,despitethesedynamics,AllegisGlobalSolutions'billraterecommendationsin2025reflectedonlymoderateincreasesacrossmostlaborcategories.

Projectmanagementrolesstoodout,withbenchmarkrateincreasesof4-6%acrossprofessionalservicesandIT.Callcenterrolesalsorecordeda6%increase,largely

drivenbyminimumwageadjustmentsforlower-incomeworkers.Outsideofthesecategories,mostrolesexperiencedbenchmarkincreasesof1-3%,resultinginanoverallprofessionalservicesbenchmarkincreaseofapproximately4%.

Malaysia

Despitebroadereconomicheadwinds,Malaysia

sustainedstrongdemandfortalentin2025.Thelaborforceexpandedbyapproximately3%supportingan11%declineinpart-timeunemploymentasmore

workerstransitionedintofull-time,higherproductivityroles.Thistrendindicatesacontinuedshifttoward

formalemploymentasglobalinterestinMalaysia'sworkforcegrows.

Withjobvacanciesrepresentingjust2%oftotal

employment,Malaysia'slabormarketappears

relativelybalanced,avoidingtheacutetalent

shortagesandwagepressuresseeninseveral

neighboringeconomies.Overallmonthlysalaries

increased4.3%in2025,downfrom5.6%in2024.ITandprofessionalserviceswagescloselytrackedtheaverageat4%,whilemanufacturingandfinance

laggedwithincreasesof3.3%and1.7%respectively.

Withinflationdecliningslightlyto1.6%fortheyear,Malaysiastandstoseemoremoderatewagegrowththansimilardevelopingnationsin2026.

Philippines

ThePhilippineslabormarketremainschallengingtoassessduetothesizeofits

informaleconomy.TheOECDestimatessuggestthatonlyone-thirdofeconomic

activityoccurswithintheformalsector,withwidespreadnon-compliancearound

regulationssuchasminimumwage.nformalemploymentallowssomeworkerstoavoidapproximately23%oflabor-relatedcosts,creatingstructuralwage

suppression.

Whileheadlineunemploymentremainslowat2.3%,laborforceparticipationstandsatjust60.4%,highlightingbothuntappedlaborpotentialandstructural

barrierstoformalemployment.Despitethesechallenges,AllegisGlobalSolutionscustomerstypicallyoperatewithinasmaller,highlyskilledformallaborsegment.

Withinthissegment,employersreporteda5.3%increaseinaveragesalariesin2025,withwagegrowthprojectedtoreach5.5%in2026.Althoughthe

Philippineshasmademeaningfulprogressoverthepast15years,keyskillsgaps,

particularlyinSTEManddigitalroles,combinedwithregulatorycomplexity

continuetolimitscalability.Theseconstraintscontributetouncertaintyaroundl