FX.co ★ Singapore Jobless Rate Edges Up to 2% in Q3

Singapore’s seasonally adjusted unemployment rate edged up to 2.0% in Q3 2026 from 1.9% in the previous quarter, which had marked the lowest level since Q4 2024, according to preliminary data.

Total employment rose by 27,700 in Q3, compared with an increase of 11,400 in the previous quarter and 25,100 in the same period a year earlier. Gains were driven mainly by non-residents, especially in the construction and manufacturing sectors.

Layoffs climbed to 4,800 in Q3, the highest level since Q4 2020, up from 4,620 in Q2. The increase was led by outward-oriented sectors, while business reorganisation remained the primary reason for retrenchments. Even so, the retrenchment rate held steady at 2.0 per 1,000 employees.

Looking ahead, more firms plan to expand headcount, and wage-growth intentions have picked up. However, both hiring and wage intentions remain below July levels, indicating that employers are still cautious about recruitment and pay increases amid ongoing uncertainty.