Singapore’s seasonally adjusted unemployment rate inched higher to 2.3 percent in the September quarter 2019 from 2.2 percent in the previous period and in line with the preliminary estimate. This was the highest jobless rate since the fourth quarter 2009, as more workers were retrenched while hiring sentiments remained cautious, with the number of job vacancies continuing to fall. Unemployment Rate in Singapore averaged 2.43 percent from 1986 until 2019, 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. source: Ministry of Manpower Singapore
Unemployment Rate in Singapore is expected to be 2.10 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 2.50 in 12 months time. In the long-term, the Singapore Unemployment Rate is projected to trend around 2.40 percent in 2020, according to our econometric models.