Singapore Labour Costs  Forecast


Labour Costs in Singapore is expected to be 110.00 Index Points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Labour Costs in Singapore to stand at 111.80 in 12 months time. In the long-term, the Singapore Labour Costs is projected to trend around 122.00 Index Points in 2020, according to our econometric models.

Singapore Labour Costs
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Singapore Labour Last Q3/17 Q4/17 Q1/18 Q2/18 2020
Unemployment Rate 2.2 2.3 2.3 2.4 2.4 3.1
Employed Persons 3673 3820 3820 3929 3929 4151
Unemployed Persons 103 111 111 119 119 133
Average Weekly Hours 45.5 45.2 45.2 45 45 44.5
Labor Force Participation Rate 68 68.7 68.7 69 69 71.5
Labour Costs 109 110 120 126 112 122
Productivity 109 111 120 125 111 124
Job Vacancies 50000 45734 49641 52200 50500 58817
Wages 4939 4800 5500 5800 5150 6200
Wages in Manufacturing 4220 4820 5600 5660 5200 6100
Population 5.6 5.63 5.63 5.77 5.77 5.9
Retirement Age Women 62 62 62 62 62 62
Retirement Age Men 62 62 62 62 62 62
Employment Change -7.8 5 6.7 -1 12.4 12.2