Singapore’s seasonally adjusted unemployment rate edged up to 2.4 percent in the first quarter of 2020 from 2.3 percent in the previous period, a preliminary estimate showed. It was the highest jobless rate since the 2009 global financial crisis as labour market conditions worsened due to the coronavirus pandemic. Total employment (excluding Foreign Domestic Workers) fell 19,900 in Q1, its sharpest quarterly contraction since SARS. Overall retrenchments rose to 3,000 from 2,670 in Q4.
Unemployment Rate in Singapore averaged 2.43 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 May of 2020. source: Ministry of Manpower Singapore
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. 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 2.60 percent in 2021 and 2.80 percent in 2022, according to our econometric models.