30.04.202604:28:20UTC+00Singapore Jobless Rate Hits 2-Year High

Singapore’s seasonally adjusted unemployment rate inched up to 2.1% in the first quarter of 2026, after holding steady at 2.0% for four consecutive quarters, according to preliminary estimates. This was the highest level since Q1 2024. The resident unemployment rate was unchanged at 2.9%, while the citizen unemployment rate rose slightly to 3.1% from 3.0%.

Retrenchments remained broadly stable at 3,700 workers, compared with 3,690 in the previous quarter, equivalent to 1.5 retrenched workers per 1,000 employees. Meanwhile, total employment increased by 5,000 in Q1 2026—up from 2,300 a year earlier, but significantly below the 17,700 gain recorded in Q4 2025.

Among residents, employment growth was driven mainly by the transportation and storage sector, as well as administrative and support services. For non-residents, employment gains were led by the construction sector.

Looking ahead, the labour market is expected to remain tight and continue expanding. However, firms are likely to remain cautious in their hiring and wage decisions amid persistent uncertainty and ongoing geopolitical tensions.