Singapore unemployment rate (Q1): Actual 2.0%, expected 2.1%, previous 1.9%

Singapore unemployment rate (Q1): Actual 2.0%, expected 2.1%, previous 1.9%

Singapore's seasonally adjusted unemployment rate in the first quarter of 2025 has been revised to 2%, slightly lower than the initial estimate of 2.1%, but higher than the previous quarter's rate of 1.9% [1]. This marks the highest jobless rate in a year, driven by slowing economic activity and ongoing global trade tensions.

Retrenchments in the quarter decreased to 3,590 from 3,680 in the previous quarter, with most sectors experiencing stable or reduced levels of layoffs. Total employment growth, however, eased significantly to 2,400 from 7,700 in the fourth quarter, with both resident and non-resident employment rising but at a slower pace [1].

The near-term global economic outlook remains uncertain, though Singapore's external demand prospects have improved slightly due to major economies taking steps to de-escalate global trade tensions [1]. The Singaporean labor market is expected to continue growing in the near term, but escalating global trade tensions and slowing domestic economic growth could weaken the labor market [1].

Looking ahead, the Singapore Unemployment Rate is projected to trend around 1.80% in 2026 and 1.90% in 2027, according to econometric models [1].

References:
[1] https://tradingeconomics.com/singapore/unemployment-rate