FX.co ★ Singapore Jobless Rate Ticks Up to 2.1% in Q2

Singapore's seasonally adjusted unemployment rate slightly increased to 2.1% in the second quarter of 2025, rising from 2.0% in the previous quarter, according to preliminary estimates. This represents the highest unemployment rate since the first quarter of 2024. Nonetheless, it suggests a stable labor market amidst sustained economic growth. Total employment saw a notable increase during the quarter, with a rise of 8,400 jobs compared to 2,300 in the first quarter. This growth was attributed to substantial employment gains among both residents and non-residents. Meanwhile, retrenchment figures held steady at 3,500, down slightly from 3,590, with most sectors experiencing similar or reduced levels of job cuts. Business reorganization or restructuring remained the primary reason for these job losses. However, there were emerging signs of a slowdown in some outward-oriented sectors, particularly in professional services and information and communications. Looking forward, ongoing global economic uncertainties may impact hiring and wage growth, particularly in sectors that rely on external demand.