Singapore’s seasonally adjusted unemployment rate edged lower to 2.6% in Q3 2021 from 2.7% in Q2, a preliminary figure showed. This was the lowest jobless rate since Q1 2020, amid a sustained economic recovery in the aftermath of the coronavirus crisis. Some 2,000 workers were laid off, down from 2,340 in Q2, with services continuing to account for the majority of the retrenchments, followed by manufacturing and construction. Total employment fell at a considerably slower pace (-3,400) than in Q2 (-16,300) as resident employment grew faster, particularly in outward-oriented industries such as professional services, information & communication, and financial services; while non-resident employment dropped at a pace similar to Q2 across most sectors, reflecting persistent border restrictions. 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 December of 2021.
Unemployment Rate in Singapore is expected to be 2.40 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 2.50 percent in 2022 and 2.20 percent in 2023, according to our econometric models.