21.09.202605:08:39UTC+00Singapore Q2 Jobless Rate Revised Lower

Singapore’s seasonally adjusted unemployment rate edged down to 1.9% in Q2 2026, slightly below the earlier estimate of 2.0% and the lowest level since Q4 2024, supported by stronger economic growth. However, labour market conditions remained uneven.

Layoffs rose to 4,620, the highest since Q4 2020 and up from 3,830 in Q1. Retrenchments were concentrated in outward-oriented sectors, including manufacturing, communications, and finance, with business restructuring cited as the main reason. The retrenchment rate increased to 2.0 per 1,000 employees, from 1.6 in Q1.

Total employment growth accelerated to 11,400 in Q2, compared with 9,400 in Q1, driven mainly by increases in non-resident employment as gains among residents slowed. Re-entry outcomes weakened: 54.9% of retrenched residents found new jobs, down from 60.7% previously.

Job vacancies declined to 68,600, from 73,300 in the previous quarter and 76,200 in Q2 2025, though they continued to outnumber unemployed persons, at 1.48 openings per job seeker.

Forward-looking indicators were mixed. A larger share of firms indicated plans to hire, but intentions for wage growth eased, and both measures remained below their February levels, reflecting continued caution over headcount expansion and pay increases.