Singapore Unemployment Rate

Unemployment Rate in Singapore remained unchanged at 1.80 percent in the fourth quarter of 2013 from 1.80 percent in the third quarter of 2013. Unemployment Rate in Singapore is reported by the Ministry of Manpower Singapore. From 1986 until 2013, Singapore Unemployment Rate averaged 2.5 Percent reaching an all time high of 6.0 Percent in March of 1986 and a record low of 1.4 Percent in June of 1990. In Singapore, the unemployment rate measures the number of people actively looking for a job as a percentage of the labour force. This page provides - Singapore Unemployment Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. 2014-04-19

Actual Previous Highest Lowest Forecast Dates Unit Frequency
1.80 1.80 6.00 1.40 1.80 | 2014/03 1986 - 2013 Percent Quarterly

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Singapore Unemployment Rate
LIST BY COUNTRY


CALENDAR GMT Country Event Reference Actual Previous Consensus Forecast
2013-10-31 02:00 AM Singapore
Unemployment Rate
Q3 2013 1.8% 2.1% 2.1% 2.1%
2013-12-13 02:00 AM Singapore
Unemployment Rate
Q3 2013 (F) 1.8% 2.1% 1.8% 2.1%
2014-01-29 02:00 AM Singapore
Unemployment Rate-Prel
Q4 2013 1.8% 1.8% 1.8%
2014-03-14 02:00 AM Singapore
Unemployment Rate - Final
Q4 2013 1.8% 1.8% 1.8% 1.8%
2014-04-30 03:00 AM Singapore
Unemployment Rate-Prel
Q1 2014 1.8% 1.8%
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Labour Last Previous Highest Lowest Forecast Unit
Population 5.31 2012-12-31 5.18 5.31 1.65 5.44 2013-12-31 Million [+]
Employed Persons 3492.50 2013-12-31 3358.10 3492.50 1714.20 3528.48 2014-06-30 Thousand [+]
Job Vacancies 56500.00 2013-11-15 61900.00 61900.00 12000.00 60829.07 2014-03-31 [+]
Labour Costs 127.75 2013-11-15 111.34 136.30 57.37 124.37 2014-03-31 Index Points [+]
Productivity 127.75 2013-11-15 111.34 136.30 57.37 124.34 2014-03-31 Index Points [+]
Retirement Age Men 62.00 2014-01-01 62.00 62.00 62.00 62.00 2014-06-30 [+]
Retirement Age Women 62.00 2014-01-01 62.00 62.00 62.00 62.00 2014-06-30 [+]
Unemployed Persons 90.70 2013-06-30 87.10 124.10 25.80 90.83 2013-12-31 Thousand [+]
Wages 4998.00 2013-11-15 4212.00 4998.00 1302.00 4818.89 2014-03-31 SGD [+]
Wages in Manufacturing 4220.00 2013-08-15 4269.00 5056.00 3797.00 4573.81 2013-12-31 SGD [+]
Unemployment Rate 1.80 2013-12-31 1.80 6.00 1.40 1.80 2014-03-31 Percent [+]
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Singapore Unemployment Rate Confirmed at 1.8% in Q4

Singapore’s jobless rate was recorded at 1.8 percent in the last three months of 2013, unchanged from the previous quarter and matching preliminary estimates.

Citizen unemployment rate was also unchanged at 2.8 percent. The resident unemployment rate edged up slightly by 0.1 percent to 2.7 percent.

For the whole of 2013, the annual average overall and citizen unemployment rates dipped to 1.9 percent and 2.9 percent respectively, while the resident rate remained unchanged at 2.8 percent. 

Overall, the Singapore labour market is expected to remain tight in 2014. This will place upward pressure on incomes. While some increase in redundancies is expected as part of economic restructuring, unemployment is likely to remain low as job creation will be strong. With increasingly binding foreign manpower constraints, local employment should continue to register gains in 2014.

The Construction sector is expected to see strong labour demand on account of ongoing infrastructure development. These include the construction of the Downtown and Thomson MRT lines, hospitals and nursing homes, as well as public and private sector housing projects. Labour demand in the Manufacturing sector is expected to come mainly from the Marine and General Manufacturing industries.

Labour demand in the Services sector is also expected to be strong. In particular, labour demand from the Retail Trade, Accommodation and Food & Beverage Services industries will be driven by the opening of several hotels and shopping malls in 2014. As previously announced foreign workforce tightening measures for the Services sector (such as the reduction of DRC for renewal applications from 50% to 45% and increases in foreign worker levies) come into force in July 2014, labour market conditions for these industries will tighten further, especially for firms that rely on more manpower-intensive and less productive models of operation.

Ministry of Manpower | Joana Taborda | joana.taborda@tradingeconomics.com
3/14/2014 10:40:05 AM

RECENT RELEASES

Singapore Unemployment Rate Steady at 1.8% in Q4 2013
Preliminary estimates showed that in the fourth quarter of 2013, Singapore's overall jobless rate was unchanged at 1.8 percent, the same rate recorded in the previous quarter. Unemployment for citizens was also steady at 2.8 percent. The resident unemployment rate edged up slightly from 2.6 percent in Q3 2013 to 2.7 percent in Q4 2013. Published on 2014-01-29

Singapore Unemployment Rate Confirmed at 1.8% in Q3
Singapore's final figure for jobless rate in the third quarter of 2013 was confirmed at 1.8 percent, down from 2.1 percent in the previous three-month period. Unemployment remained low, reflecting the tight labour market. The seasonally adjusted unemployment rate for residents decreased over the quarter from 2.9 percent to 2.6 percent, and from 3.1 percent to 2.8 percent for Singapore citizens. Published on 2013-12-13


Unemployment Rate | Notes
The unemployment rate can be defined as the number of people actively looking for a job divided by the labour force. Changes in unemployment depend mostly on inflows made up of non-employed people starting to look for jobs, of employed people who lose their jobs and look for new ones and of people who stop looking for employment.


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