Singapore’s seasonally adjusted unemployment rate dropped to 3.2% in Q4 0f 2020 from an over 16-year high of 3.6% in Q3, a preliminary estimate showed. Some 6,100 workers were laid off in Q4, down from 9,120 in Q3. It is the first time the number of retrenchments dipped after five straight quarters of growth. Meanwhile, total employment fell by 13,500 in Q4, amid a further decline in employment in both manufacturing and construction, largely due to reductions in non-resident work permit holders. For full 2020, the jobless rate rose to 3.0% from 2.3% in 2019, with the resident unemployment rising to 4.1% from 3.1%, while the citizen unemployment increasing to 4.2% from 3.3%. “The COVID-19 pandemic has a significant impact on the labor market in 2020. Although latest indicators point to a broad improvement, the labor market is still not back at pre-pandemic levels,” the Ministry Of Manpower said in a statement. source: Ministry of Manpower Singapore

Unemployment Rate in Singapore averaged 2.45 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 February of 2021.

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 2.40 in 12 months time. In the long-term, the Singapore Unemployment Rate is projected to trend around 2.30 percent in 2022, according to our econometric models.

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Singapore Unemployment Rate

Actual Previous Highest Lowest Dates Unit Frequency
3.20 3.60 6.00 1.40 1986 - 2020 percent Quarterly


Calendar GMT Actual Previous Consensus TEForecast
2020-09-14 07:00 AM Unemployment Rate Final Q2 2.8% 2.4% 2.9% 2.9%
2020-10-30 06:00 AM Unemployment Rate Prel Q3 3.6% 2.8% 3.2%
2020-12-17 03:30 AM Unemployment Rate Final Q3 3.6% 2.8% 3.6% 3.6%
2021-01-28 02:30 AM Unemployment Rate Prel Q4 3.2% 3.6% 3.5%
2021-03-15 02:30 AM Unemployment Rate Final Q4
2021-04-29 02:30 AM Unemployment Rate Prel Q1
2021-06-15 02:30 AM Unemployment Rate Final Q1
2021-07-29 02:30 AM Unemployment Rate Prel Q2


News Stream
Singapore Q4 Jobless Rate Falls to 3.2%
Singapore’s seasonally adjusted unemployment rate dropped to 3.2% in Q4 0f 2020 from an over 16-year high of 3.6% in Q3, a preliminary estimate showed. Some 6,100 workers were laid off in Q4, down from 9,120 in Q3. It is the first time the number of retrenchments dipped after five straight quarters of growth. Meanwhile, total employment fell by 13,500 in Q4, amid a further decline in employment in both manufacturing and construction, largely due to reductions in non-resident work permit holders. For full 2020, the jobless rate rose to 3.0% from 2.3% in 2019, with the resident unemployment rising to 4.1% from 3.1%, while the citizen unemployment increasing to 4.2% from 3.3%. “The COVID-19 pandemic has a significant impact on the labor market in 2020. Although latest indicators point to a broad improvement, the labor market is still not back at pre-pandemic levels,” the Ministry Of Manpower said in a statement.
2021-01-28
Singapore Q3 Jobless Rate Highest in Over 16 Years
Singapore’s seasonally adjusted unemployment rate jumped to 3.6 percent in the third quarter of 2020 from 2.8 percent in the previous period and in line with the preliminary estimate. This was the highest jobless rate since the June quarter of 2004, as the COVID-19 crisis took a huge toll on the economy. Some 9,120 workers were laid off in Q3, compared with 8,130 in Q2; while the number of job vacancies rose for the first time this year. The Ministry of Manpower said the uncertainty in the economy and weak demand conditions will weigh on the recovery of the labor market. To ease the burden of workers, the government has launched the $1 billion Jobs Growth Incentive which provides up to 50% salary support for eligible new local hires from September 2020 to February 2021.
2020-12-17
Singapore Q3 Jobless Rate Highest Since 2004
Singapore’s seasonally adjusted unemployment rate rose sharply to 3.6 percent in the September quarter of 2020 from 2.8 percent in the previous period, a preliminary estimate showed. This was the highest jobless rate since the June quarter of 2004, as the COVID-19 crisis took a huge toll on the economy. The jobless rate increased for both residents (4.7 percent vs 3.8 percent in Q2) and citizens (4.9 percent vs 4 percent). Total employment decreased by 26,900, much lower than the previous quarter (-103,800), with both manufacturing and construction sectors falling, while the services sector picking up, mainly in community, social & personal services, and food & beverage services. Meantime, some 9,100 workers were laid off, compared with 8,130 in Q2. The retrenchments rose in manufacturing and services, and primarily in arts, entertainment & recreation, and Air transport, which continues to be affected by the outbreak.
2020-10-30
Singapore Unemployment Rate Climbs to 11-Year High
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.
2020-09-14

Singapore Unemployment Rate
In Singapore, the unemployment rate measures the number of people actively looking for a job as a percentage of the labour force.