Singapore’s seasonally adjusted unemployment rate was at 2.2% in Q1 of 2022, matching the preliminary figure and falling from 2.4% in the prior period. This was the lowest reading since Q3 2019, as the economy recovered further from COVID-19 disruptions. Some 1,320 workers were laid off, the lowest print on record and compared with 1,500 in Q4. Manufacturing saw an increase in layoffs, led by those in the manufacture of fabricated metal products, machinery & equipment. These layoffs arose from product line discontinuation. Total employment grew by 42,000, compared with 47,900 in Q4, led by non-residents, as border restrictions were lifted. The inflows of non-resident workers are expected to rise further in the months ahead. Meantime, the six-month re-entry rate among retrenched residents rose to 72%, the highest since 2015, from 67% previously. The number of job vacancies rose to a new high, though the rate of increase has slowed from the prior quarter. source: Ministry of Manpower Singapore
Unemployment Rate in Singapore averaged 2.45 percent from 1986 until 2022, 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 July of 2022.
Unemployment Rate in Singapore is expected to be 2.20 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 2.20 percent in 2023, according to our econometric models.