FX.co ★ Singapore Q1 Jobless Rate Revised Lower

Singapore’s seasonally adjusted unemployment rate was revised down to 2.0% in the first quarter of 2026 from the preliminary estimate of 2.1%, remaining at 2.0% for the fifth consecutive quarter. The unemployment rate for residents held steady at 2.9%, while the rate for citizens inched up to 3.1% from 3.0%.

Retrenchments stayed low at 3,830 workers, a slight rise from 3,690 in Q4, corresponding to 1.5 retrenchments per 1,000 employees. Meanwhile, total employment grew by 9,400 in Q1 2026, extending the expansion streak to 18 consecutive quarters since Q4 2021.

Among residents, employment growth was driven mainly by administrative & support services and transportation & storage. For non-residents, job gains were supported primarily by the construction and manufacturing sectors.

Looking ahead, labour market conditions are expected to remain resilient. However, firms may take a more cautious stance on hiring and wage increases amid elevated global economic uncertainty and ongoing geopolitical tensions.