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2025-09-17 14:38:44
Singapore's Q2 Unemployment Rate Revised Down to 2%, Labor Market Remains Resilient: (1) Singapore's seasonally adjusted unemployment rate for the second quarter of 2025 was revised down to 2.0% from a preliminary estimate of 2.1%, unchanged from the first quarter and the highest level since the first quarter of 2024. (2) Despite a slight increase in the unemployment rate, the labor market remains resilient amid continued economic growth. (3) Total employment increased significantly by 10,400 in the quarter (compared to 2,300 in the first quarter), with resident employment increasing by 2,600 and non-resident employment increasing by 7,800. (4) While layoffs remained stable (3,540 vs. 3,590 in the first quarter), signs of a softening labor market were evident. (5) Job vacancies fell to 76,900 from 81,100 in the first quarter, with declines seen across most sectors. (6) Labor demand continues to outstrip supply, with the job vacancy to unemployed ratio remaining at 1.35. (7) Looking ahead, global uncertainty is expected to weigh on hiring and wage growth.
