Singapore Jobless Rate Edges Up to 2% in Q3

Singapore’s seasonally adjusted unemployment rate inched up to 2.0% in Q3 2026, from 1.9% in the previous quarter, which was the lowest since Q4 2024, preliminary data showed. Total employment increased by 27,700 in Q3, compared with 11,400 in the previous quarter and 25,100 in the same period last year. Employment growth was led by non-residents, particularly in the construction and manufacturing sectors. Layoffs rose to 4,800 in Q3, the highest since Q4 2020, up from 4,620 in Q2. The increase was led by outward-oriented sectors, while business reorganisation continued to be the main driver of retrenchments. However, the retrenchment rate remained at 2.0 per 1,000. Looking ahead, more firms plan to hire, while wage-growth intentions have accelerated, although both remain below July levels, suggesting that employers remain cautious about hiring and wage increases amid continued uncertainty

Singapore’s seasonally adjusted unemployment rate stood at 1.9% in Q2 2026, slightly below the preliminary estimate of 2.0% and the lowest since Q4 2024, amid stronger economic growth. Yet labour conditions stayed uneven. Layoffs rose to 4,620, the highest since Q4 2020, up from 3,830 in Q1, led by outward-oriented sectors including manufacturing, communications and finance, with restructuring as the main driver. The retrenchment rate increased to 2.0 per 1,000 employees from 1.6 in Q1. Total employment growth accelerated (11,400 vs 9,400 in Q1), mainly driven by non-resident hires as resident gains slowed. Re-entry outcomes dipped, with 54.9% of retrenched residents returning to work versus 60.7% prior. Job vacancies fell (68,600 vs 73,300) and 76,200 in Q2 2025, though still outnumbered unemployed, at 1.48 per job seeker. Forward indicators were mixed: more firms plan to hire, but wage-growth intentions eased, both below February levels, due to caution over hiring and wage increases.

Singapore’s seasonally adjusted unemployment rate stood at 2.0% in Q2 2026, holding steady at 2.0% for the fifth straight quarter, preliminary estimates showed. The resident unemployment rate remained unchanged at 2.9%, while the citizen unemployment rate edged lower to 3.0% from 3.1%. Retrenchments rose to 4,500 in Q2 from 3,830 workers in Q1, marking the highest number since Q4 2020, bringing the incidence of retrenchment up from 1.6 to 1.9 per 1,000 employees. The increase was concentrated in some outward-oriented sectors, such as information and communication, mainly due to business restructuring. Meanwhile, total employment increased by 10,700 in Q2 2026, up from 9,400 in Q1, marking the 19th consecutive quarter of growth since Q4 2021. Overall employment growth was largely driven by foreign employment in the construction and manufacturing sectors. Looking ahead, labour market conditions are expected to remain resilient, although firms remain cautious amid economic uncertainty.