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​​For release: 7 April​​​​ 2022​
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Unemployment rates continued to improve in February 2022 (overall: from 2.3% to 2.1%; residents: from 3.1% to 3.0%; citizens: from 3.3% to 3.2%). With the latest month’s decline, the unemployment rates are now back to around pre-COVID levels.​¹ 71,700 residents ² were unemployed in February 2022, including 65,000 citizens.^3,4​

​Going forward, we expect the unemployment rates to fluctuate around this level depending on the prevailing economic situation. The high number of vacancies could bring rates down further, but at the same time, the downside risks in the global economy have increased – protracted supply chain disruptions and higher energy prices could affect business sentiments and profitability.

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^{Unemployment Rates (Seasonally Adjusted)}

 

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^{Source: Labour Force Survey, Manpower Research &​​​ Statistics Department, MOM}

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Manpower Research and Statistics Department,

Ministry of Manpower

 

 

 

 

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¹ The quarterly average unemployment rates in 2018/2019 were 2.2% at the overall, 3.0% among residents, and 3.2% among citizens.

2 “Residents” refer to Singapore Citizens and Permanent Residents.

3 Based on seasonally adjusted data on number of unemployed persons.

4​​ Refer to Explanator​y​ Notes for more information.
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