Singapore’s seasonally adjusted unemployment rate fell to 2.9% in Q1 2021 from 3.3% in Q4, in line with the preliminary reading. This was the lowest jobless rate in three quarters, as a recovery in the economy from the pandemic gained steam. Some 2,270 workers were laid off in Q1, down from 5,640 in Q4, reflecting the second straight quarter of fall since the number of retrenchments peaked in Q3 2020. Total employment grew 12,200 after four consecutive quarters of drop, mainly supported by resident employment growth. Employment in the services sector led the gains, while those in construction saw muted growth, and manufacturing employment shrank. The number of job vacancies went up to 68,400, the most in six years. Meantime, the ratio of job vacancies to unemployed persons rose to 0.96 from 0.75 in Q4. The labor market is still not fully back to pre-COVID-19 levels, with the latest curbs are expected to weigh on the recovery in Q2. source: Ministry of Manpower Singapore

Unemployment Rate in Singapore averaged 2.45 percent from 1986 until 2021, reaching an all time high of 6 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 July of 2021.

Unemployment Rate in Singapore is expected to be 2.80 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Unemployment Rate in Singapore to stand at 2.60 in 12 months time. In the long-term, the Singapore Unemployment Rate is projected to trend around 2.50 percent in 2022 and 2.20 percent in 2023, according to our econometric models.

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Singapore Unemployment Rate

Actual Previous Highest Lowest Dates Unit Frequency
2.90 3.30 6.00 1.40 1986 - 2021 percent Quarterly
SA


Calendar GMT Actual Previous Consensus TEForecast
2021-01-28 02:30 AM Unemployment Rate Prel Q4 3.2% 3.6% 3.5%
2021-03-16 02:30 AM Unemployment Rate Final Q4 3.3% 3.6% 3.2% 3.2%
2021-04-28 05:00 AM Unemployment Rate Prel Q1 2.9% 3.2% 3.0%
2021-06-17 03:30 AM Unemployment Rate Final Q1 2.9% 3.3% 2.9%
2021-07-29 02:30 AM Unemployment Rate Prel Q2 2.9%
2021-09-14 02:30 AM Unemployment Rate Final Q2
2021-10-28 02:30 AM Unemployment Rate Prel Q3
2021-12-14 02:30 AM Unemployment Rate Final Q3


News Stream
Singapore Q1 Jobless Rate Confirmed at 2.9%
Singapore’s seasonally adjusted unemployment rate fell to 2.9% in Q1 2021 from 3.3% in Q4, in line with the preliminary reading. This was the lowest jobless rate in three quarters, as a recovery in the economy from the pandemic gained steam. Some 2,270 workers were laid off in Q1, down from 5,640 in Q4, reflecting the second straight quarter of fall since the number of retrenchments peaked in Q3 2020. Total employment grew 12,200 after four consecutive quarters of drop, mainly supported by resident employment growth. Employment in the services sector led the gains, while those in construction saw muted growth, and manufacturing employment shrank. The number of job vacancies went up to 68,400, the most in six years. Meantime, the ratio of job vacancies to unemployed persons rose to 0.96 from 0.75 in Q4. The labor market is still not fully back to pre-COVID-19 levels, with the latest curbs are expected to weigh on the recovery in Q2.
2021-06-17
Singapore Q4 Jobless Rate Revised Higher
Singapore’s seasonally adjusted unemployment rate was at 3.3% in Q4 of 2020, compared with the preliminary reading of 3.2% and 3.6% in Q3. Some 5,640 workers were laid off in Q4, down from 9,120 in Q3. It is the first time the number of retrenchments dipped after five straight quarters of growth. Meanwhile, total employment fell by 7,900 in Q4. For full 2020, the jobless rate rose to 3.0%, the highest in a decade, from 2.3% in 2019, with the resident unemployment rising to 4.1% from 3.1%, while the citizen jobless rate increasing to 4.2% from 3.3%. The number of retrenchments was 26,110 in 2020, more than double of 2019 when they stood at 10,690. The Singapore economy is expected to see a gradual recovery over the course of the year, although the pace of recovery is likely to be uneven across sectors," the Ministry of Manpower said. “Labor market conditions remain uncertain although we have started 2021 on a firmer footing than in 2020.”
2021-03-16
Singapore Q4 Jobless Rate Falls to 3.2%
Singapore’s seasonally adjusted unemployment rate dropped to 3.2% in Q4 0f 2020 from an over 16-year high of 3.6% in Q3, a preliminary estimate showed. Some 6,100 workers were laid off in Q4, down from 9,120 in Q3. It is the first time the number of retrenchments dipped after five straight quarters of growth. Meanwhile, total employment fell by 13,500 in Q4, amid a further decline in employment in both manufacturing and construction, largely due to reductions in non-resident work permit holders. For full 2020, the jobless rate rose to 3.0% from 2.3% in 2019, with the resident unemployment rising to 4.1% from 3.1%, while the citizen unemployment increasing to 4.2% from 3.3%. “The COVID-19 pandemic has a significant impact on the labor market in 2020. Although latest indicators point to a broad improvement, the labor market is still not back at pre-pandemic levels,” the Ministry Of Manpower said in a statement.
2021-01-28
Singapore Q3 Jobless Rate Highest in Over 16 Years
Singapore’s seasonally adjusted unemployment rate jumped to 3.6 percent in the third quarter of 2020 from 2.8 percent in the previous period and in line with the preliminary estimate. This was the highest jobless rate since the June quarter of 2004, as the COVID-19 crisis took a huge toll on the economy. Some 9,120 workers were laid off in Q3, compared with 8,130 in Q2; while the number of job vacancies rose for the first time this year. The Ministry of Manpower said the uncertainty in the economy and weak demand conditions will weigh on the recovery of the labor market. To ease the burden of workers, the government has launched the $1 billion Jobs Growth Incentive which provides up to 50% salary support for eligible new local hires from September 2020 to February 2021.
2020-12-17

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.