FX.co ★ Singapore Q2 Jobless Rate Revised Slightly Down to 2%

In the second quarter of 2025, Singapore's seasonally adjusted unemployment rate was slightly revised downward to 2% from the earlier estimate of 2.1%, maintaining the same level as the previous quarter. This represents the highest unemployment rate since the first quarter of 2024, yet it indicates a resilient labor market, supported by ongoing economic expansion. During this period, total employment rose significantly, with an increase of 10,400 jobs compared to 2,300 in the first quarter, driven by notable increases in both resident (+2,600) and non-resident employment (+7,800). Meanwhile, retrenchments remained relatively stable at 3,540 compared to 3,590 previously, although some signs of a softening labor market were evident. Job vacancies decreased to 76,900 in Q2 2025, down from 81,100 in the prior quarter, reflecting widespread declines across most sectors. Nevertheless, the demand for labor continued to surpass supply, as indicated by a job vacancy-to-unemployed ratio of 1.35. Looking forward, global uncertainties are anticipated to impact hiring and wage growth.