News

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.
Published on 2020-12-17

Singapore Q3 Jobless Rate Highest Since 2004
Singapore’s seasonally adjusted unemployment rate rose sharply to 3.6 percent in the September quarter of 2020 from 2.8 percent in the previous period, a preliminary estimate showed. This was the highest jobless rate since the June quarter of 2004, as the COVID-19 crisis took a huge toll on the economy. The jobless rate increased for both residents (4.7 percent vs 3.8 percent in Q2) and citizens (4.9 percent vs 4 percent). Total employment decreased by 26,900, much lower than the previous quarter (-103,800), with both manufacturing and construction sectors falling, while the services sector picking up, mainly in community, social & personal services, and food & beverage services. Meantime, some 9,100 workers were laid off, compared with 8,130 in Q2. The retrenchments rose in manufacturing and services, and primarily in arts, entertainment & recreation, and Air transport, which continues to be affected by the outbreak.
Published on 2020-10-30

Singapore Unemployment Rate Climbs to 11-Year High
The seasonally adjusted unemployment in Singapore was revised slightly lower to 2.8 percent in the second quarter of 2020, compared to a flash estimate of 2.9 percent and remaining at the highest level since the third quarter of 2009. The number of unemployed people increased further amid the COVID-19 crisis, while employment saw its sharpest decline on record.
Published on 2020-09-14

Singapore Q2 Jobless Rate Highest in Over A Decade
Singapore’s seasonally adjusted unemployment rate rose sharply to 2.9 percent in the June quarter of 2020 from 2.4 percent in the previous period, a preliminary estimate showed. This was the highest jobless rate since the September quarter of 2009, as the economy entered a recession in Q2 while the external environment remained weak amid a threat of the second wave of COVID-19 crisis. The jobless rate increased for both residents (3.9 percent vs 3.2 percent in Q1) and citizens (4 percent vs 3.5 percent). Total employment (excluding Foreign Domestic Workers) decreased by 121,800, more than four times the decline in Q1, with the three broad sectors of manufacturing, construction, and services all falling. Within the services sector, the contraction was sharpest in food and beverage services, retail trade, and education. Meantime, some 6,700 workers were laid off, compared with 3,220 in Q1. The retrenchments rose significantly in wholesale trade and transport equipment.
Published on 2020-07-29

Singapore Jobless Rate at Over a Decade High
Singapore’s seasonally adjusted inched higher to 2.4 percent in the first quarter 2020 from 2.3 percent in the previous period and in line with the preliminary estimate. This was the highest jobless rate since the September quarter of 2009, amid worsening labor market conditions due to the coronavirus pandemic. The jobless rate rose for both residents (3.3% vs 3.2% in Q4) and citizens (3.5% vs 3.3%). Total employment fell by 25,600 in the March quarter, the sharpest quarterly contraction on record due to a significant fall in foreign employment. The number of retrenchments rose to 3,220 in the first quarter from 2,670 in the December quarter, largely due to sectoral downturn or poor business.
Published on 2020-06-15

Singapore Q1 Jobless Rate Rises to Over a Decade High
Singapore’s seasonally adjusted unemployment rate edged up to 2.4 percent in the first quarter of 2020 from 2.3 percent in the previous period, a preliminary estimate showed. It was the highest jobless rate since the 2009 global financial crisis as labour market conditions worsened due to the coronavirus pandemic. Total employment (excluding Foreign Domestic Workers) fell 19,900 in Q1, its sharpest quarterly contraction since SARS. Overall retrenchments rose to 3,000 from 2,670 in Q4.
Published on 2020-04-29

Singapore Q4 Jobless Rate Confirmed at 2.3%
Singapore’s seasonally adjusted unemployment rate was at 2.3% in Q4 2019, the same as in Q3, remaining the highest figure in near a decade, and in line with the preliminary estimate. The jobless rate was unchanged for both residents (at 3.2%) and citizens (at 3.3%). Total employment (excluding Foreign Domestic Workers) grew 18,300 in Q4, lower than in Q3 (21,700) but higher than a year ago (14,700). Some 2,670 workers were laid off, up from that in Q3 (2,470) but down from the same period a year ago (2,510). For full 2019, jobless rate rose to 2.3%, the most since 2009, from 2.1% in 2018. The jobless rate went up for both resident (3.1% vs 2.9% in 2018) and citizens (3.3% vs 3%). Total employment grew 57,000, while retrenchments in 2019 (10,690) was similar to 2018 (10,730).
Published on 2020-03-12

Singapore Q4 Jobless Rate Stays at Near A Decade High
Singapore’s seasonally adjusted unemployment rate was at 2.3% in Q4 2019, the same as in Q3, remaining the highest figure in near a decade, a preliminary estimate showed. The jobless rate was unchanged for both residents (at 3.2%) and citizens (at 3.3%). Total employment (excluding Foreign Domestic Workers) grew 16,600 in Q4, lower than in Q3 (21,700) but higher than a year ago (14,700). Some 2,700 workers were laid off, down from that in Q3 (2,470) and the same period a year ago (2,510). For full 2019, jobless rate rose to 2.3% from 2.1% in 2018. The jobless rate went up for both resident (3.2% vs 2.9% in 2018) and citizens (3.3% vs 3.0%). Total employment grew 55,200, while retrenchments in 2019 (10,700) was similar to 2018 (10,730).
Published on 2020-01-30

Singapore Q3 Jobless Rate Confirmed at Near A Decade-High
Singapore’s seasonally adjusted unemployment rate inched higher to 2.3 percent in the September quarter 2019 from 2.2 percent in the previous period and in line with the preliminary estimate. This was the highest jobless rate since the fourth quarter 2009, as more workers were retrenched while hiring sentiments remained cautious, with the number of job vacancies continuing to fall.
Published on 2019-12-12

Singapore Q3 Jobless Rate Highest in Near A Decade
Singapore’s seasonally adjusted unemployment rate edged up to 2.3 percent in the September quarter 2019, the highest since the fourth quarter 2009, from 2.2 percent in the previous three periods, a preliminary estimate showed. The increase in unemployment rates occurred as more workers were retrenched when there were still vacancies available, suggesting some mismatch in the labour market.
Published on 2019-10-25

Singapore Q2 Jobless Rate Confirmed at 2.2%
Singapore’s seasonally adjusted unemployment rate stood at 2.2 percent in the June quarter 2019, unchanged from the previous two periods and in line with the preliminary estimate and market expectations, final figure showed. This remained the highest jobless rate since the second quarter 2017 on the back of rising global economic headwinds, with job vacancies falling for the second straight quarter as hiring sentiments turned cautious.
Published on 2019-09-12

Singapore Jobless Rate Steady at 2.2% in Q2
Singapore’s seasonally adjusted unemployment rate stood at 2.2 percent in the June quarter 2019, unchanged from the previous two periods, a preliminary estimate showed. It remained the highest jobless rate since the second quarter 2017, amid rising global uncertainties and ongoing trade tensions.
Published on 2019-07-26

Singapore Q1 Jobless Rate Confirmed at 1-1/2 Year-High
Singapore’s seasonally adjusted unemployment rate came in at 2.2 percent in the first quarter 2019, unchanged from the previous period's 1-1/2 year-high and in line with the preliminary estimate. Amid a slowdown in the economy, lay-offs rose while job vacancies fell for the first time in two years.
Published on 2019-06-13

Singapore Jobless Rate Holds Steady at 1-1/2-Year High
Singapore’s seasonally adjusted unemployment rate stood at 2.2 percent in the first quarter 2019, unchanged from the previous period, a preliminary estimate showed. It remained the highest jobless rate since the second quarter of 2017, amid signs of external economic headwinds and uncertainties this year.
Published on 2019-04-26

Singapore Q4 Jobless Rate Confirmed at 1-1/2-Year High
Singapore’s seasonally adjusted unemployment rate rose to 2.2 percent in the December quarter 2018 from 2.1 percent in the previous period and in line with the preliminary estimate, final data showed. It was the highest jobless rate since the second quarter 2017 on the back of continued expansion in domestic economy. Considering full 2018, unemployment rate inched lower to 2.1 percent from 2.2 percent in 2017.
Published on 2019-03-14

Singapore Q4 Jobless Rate Highest in 1-1/2 Years
Singapore’s seasonally adjusted unemployment rate edged up to 2.2 percent in the December quarter of 2018 from 2.1 percent in the previous period, a preliminary estimate showed. It was the highest jobless rate since the second quarter 2017 on the back of continued expansion in domestic economy. For 2018 the whole year, unemployment rate inched lower to 2.1 percent from 2.2 percent a year earlier.
Published on 2019-01-31

Singapore Q3 Jobless Rate Confirmed at 2.1%
Singapore’s seasonally adjusted unemployment rate inched higher to 2.1 percent in the third quarter of 2018 from a two-year low of 2 percent in the previous quarter and in line with the preliminary estimate. It was the highest jobless rate since the last quarter of 2017, reflecting a continued inflow of job seekers into the labor market.
Published on 2018-12-13

Singapore Q3 Jobless Rate Highest in 3 Quarters
Singapore’s seasonally adjusted unemployment rate edged up to 2.1 percent in the September quarter of 2018 from a downwardly revised 2.0 percent in the previous period, a preliminary estimate showed. It was the highest jobless rate since the fourth quarter 2017.
Published on 2018-10-26

Singapore Q2 Jobless Rate Confirmed at 2.1%
Singapore’s seasonally adjusted unemployment rate inched higher to 2.1 percent in the second quarter of 2018 from a two-year low of 2 percent in the previous quarter and in line with the preliminary estimate. Layoff increased markedly while more people entered the labor force on the back of continued expansion in domestic economy.
Published on 2018-09-13

Singapore Q2 Jobless Rate Edges Higher to 2.1%
Singapore’s seasonally adjusted unemployment rate inched up to 2.1 percent in the June quarter of 2018 from 2.0 percent in the previous period, amid continued expansion in economic activities and on-going improvements in the labor market, preliminary estimates showed. The jobless rate rose for both residents (3.0 percent from 2.8 percent in the March quarter) and citizens (3.1 percent from 3.0 percent).
Published on 2018-07-27