Singapore’s seasonally adjusted unemployment rate ticked down to 2.0% in Q3 of 2022 from 2.1% in Q2, advance data showed. This was the lowest jobless rate since Q3 2016, as the economy recovered further from COVID disruptions. Some 1600 workers were laid off in Q3, up from Q2's s all-time low of 830 but the latest print continues to be lower than the pre-COVID average. Retrenchments came from manufacturing, mainly due to the discontinuation of product lines; and services, mostly linked to reorganization/restructuring. Meanwhile, total employment grew by 75,600, continuing the strong growth from Q2 (66,500) while surpassing its pre-pandemic level by 1.7%. Singapore's ministry of manpower said that, in the coming months, a deteriorating global economic environment, higher global inflation, as well as geopolitical tensions could affect the labor market outlook. Some unevenness in employment growth may emerge across sectors. source: Ministry of Manpower Singapore

Unemployment Rate in Singapore averaged 2.45 percent from 1986 until 2022, reaching an all time high of 6.00 percent in the first quarter of 1986 and a record low of 1.40 percent in the second quarter of 1990. This page provides the latest reported value for - Singapore Unemployment Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Singapore Unemployment Rate - data, historical chart, forecasts and calendar of releases - was last updated on December of 2022.

Unemployment Rate in Singapore is expected to be 2.30 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Singapore Unemployment Rate is projected to trend around 2.20 percent in 2023, according to our econometric models.

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Singapore Unemployment Rate



Calendar GMT Actual Previous Consensus TEForecast
2022-09-14 02:30 AM Unemployment Rate Final Q2 2.1% 2.2% 2.1%
2022-10-28 02:45 AM Unemployment Rate Prel Q3 2.0% 2.1% 2.2%
2022-12-14 02:30 AM Unemployment Rate Final Q3 2.1% 2.0%


Related Last Previous Unit Reference
Unemployment Rate 2.00 2.10 percent Sep 2022
Employed Persons 3643.00 3597.70 Thousand Dec 2021

Singapore Unemployment Rate
In Singapore, the unemployment rate measures the number of people actively looking for a job as a percentage of the labour force.
Actual Previous Highest Lowest Dates Unit Frequency
2.00 2.10 6.00 1.40 1986 - 2022 percent Quarterly
SA

News Stream
Singapore Q3 Jobless Rate Lowest in 6 Years
Singapore’s seasonally adjusted unemployment rate ticked down to 2.0% in Q3 of 2022 from 2.1% in Q2, advance data showed. This was the lowest jobless rate since Q3 2016, as the economy recovered further from COVID disruptions. Some 1600 workers were laid off in Q3, up from Q2's s all-time low of 830 but the latest print continues to be lower than the pre-COVID average. Retrenchments came from manufacturing, mainly due to the discontinuation of product lines; and services, mostly linked to reorganization/restructuring. Meanwhile, total employment grew by 75,600, continuing the strong growth from Q2 (66,500) while surpassing its pre-pandemic level by 1.7%. Singapore's ministry of manpower said that, in the coming months, a deteriorating global economic environment, higher global inflation, as well as geopolitical tensions could affect the labor market outlook. Some unevenness in employment growth may emerge across sectors.
2022-10-28
Singapore Q2 Jobless Rate Confirmed at Near 4-Year Low
Singapore’s seasonally adjusted unemployment rate was at 2.1% in Q2 of 2022, matching the flash figure and edging down from 2.2% in Q1. This was the lowest jobless rate since Q3 2018, as the economy recovered further from COVID disruptions. Some 990 workers were laid off in Q2, the lowest print on record, with retrenchments mainly falling in the manufacturing sector due to business reorganization and rising costs. Total employment grew by 66,500, way higher than 42,000 in Q1, as further easing of border restrictions enabled sectors with a higher share of non-residents to back-fill their positions. Meantime, resident employment rose steadily and was 4.2% above its pre-pandemic level. While the number of job vacancies eased, the labor market remained tight with the job vacancies to unemployed person ratio edging up alongside an improving unemployment situation. Re-entry into employment, meanwhile, fell to 66% from 72% in Q1 but was higher than the same period a year ago (64%).
2022-09-14
Singapore Q2 Jobless Rate Lowest in Near 4 Years
Singapore’s seasonally adjusted unemployment rate inched lower to 2.1% in Q2 of 2022 from 2.2% in Q1, flash data showed. This was the lowest jobless rate since Q3 2018, as the economy recovered further from COVID-19 disruptions. Some 1,000 workers were laid off in Q2, the lowest print on record, with retrenchments mainly falling in the manufacturing sector due to business reorganization. Total employment grew by 64,400 (or 1.9%), compared with Q1's figure of 42,000 (or 1.2%), as more residents found employment, and non-resident employment rebounded strongly following the significant relaxation of border restrictions from April 2022. While expecting the jobless rate to stay low going forward amid a tight labor market, the Singapore government mentioned that strong inflationary pressures and several external risks, including the ongoing Russia-Ukraine conflict and a resurgence of coronavirus in major economies, could dampen business sentiments and demand for manpower.
2022-07-29