FX.co ★ Singapore Q2 Jobless Rate Holds Steady at 2.0%

Singapore’s seasonally adjusted unemployment rate stood at 2.0% in the second quarter of 2026, unchanged for the fourth consecutive quarter, according to preliminary estimates. The resident unemployment rate also held steady at 2.9%, while the citizen unemployment rate inched down to 3.0% from 3.1%.

Retrenchments rose to 4,500 in Q2 from 3,830 in Q1, the highest level since Q4 2020. This lifted the incidence of retrenchment from 1.6 to 1.9 per 1,000 employees. The increase was concentrated in several outward-oriented sectors, particularly information and communications, and was largely attributed to business restructuring.

At the same time, total employment expanded by 10,700 in Q2 2026, up from 9,400 in Q1, marking the 19th consecutive quarter of growth since Q4 2021. Employment gains were driven mainly by foreign hires in the construction and manufacturing sectors.