Singapore Unemployment Rate2021 Data | 2022 Forecast | 1986-2020 Historical

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.

Singapore’s seasonally adjusted unemployment rate was at 2.7% in Q2 2021, unrevised from the preliminary figure and after 2.9% in Q1. This was the lowest jobless rate since Q1 2020, as a recovery in the economy from the pandemic gained steam. Some 2,340 workers were laid off, up slightly from 2,270 in Q1 but the level stayed within the pre-pandemic quarterly range in 2018 and 2019, with a modest uptick in layoffs seen in the manufacturing and construction sectors. Total employment fell 16,200 after posting its first rise in Q1, due to sharper declines in non-resident employment and a slower rise in resident employment, amid tighter COVID-19 restrictions in May. The six-month re-entry rate among retrenched residents dipped after rising in the previous two quarters. The number of job vacancies rose to 92,100 in Q2, exceeding the last high of 68,400 in Q1. There were 163 job openings for every 100 unemployed persons in Q2, the first time the ratio rose above 1 sinceQ1 2019.

Singapore’s seasonally adjusted unemployment rate fell to 2.7% in Q2 2021 from 2.9% in Q1, a preliminary reading showed. This was the lowest jobless rate since Q1 2020, as a recovery in the economy from the pandemic gained steam. Some 2,500 workers were laid off in Q2, up slightly from 2,270 in Q1, amid a modest uptick in layoffs in the manufacturing and construction sectors. Total employment dropped 15,700 after registering its first rise in Q1 following a year of declines in 2020, with resident employment growth slowing, reflecting declines in sectors that were directly affected by the tightened measures. Non-resident employment, meantime, continued to drop mainly due to ongoing border restrictions. The majority of companies polled in Q2 (64%) indicated they had plans to hire, lower than the figure in Q1 (73%), due to growing worries over the rise in the Delta variant COVID-19 cases.