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.
Unemployment Rate in Singapore averaged 2.43 percent from 1986 until 2020, 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 October of 2020. source: Ministry of Manpower Singapore
Unemployment Rate in Singapore is expected to be 3.20 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 2.80 in 12 months time. In the long-term, the Singapore Unemployment Rate is projected to trend around 2.40 percent in 2021 and 2.30 percent in 2022, according to our econometric models.