Try our corporate solution for free!
(212) 419-8286

Unemployment rate in Singapore 2020

The unemployment rate in Singapore raised to around 4.38 percent in 2020 from 4.11 percent in the year before. For many economies, this would be considered overemployment, but Singapore may have a lower natural unemployment rate than other economies.

What’s wrong with overemployment?

When there are not enough workers, firms are forced to hire anyone who is available. This means that employers may not select the best applicants but rather anyone who applies. This leads to lower productivity, because workers are not finding the job for which they are best suited. Companies may also have to offer wages that are so high that they also lead to a rise in prices and thus, to a higher inflation.

Singapore may be different

Singapore has a small, open economy. It has the highest gross domestic product (GDP) per capita in the region, indicating that it is an advanced economy. This is largely due to the small population, which is almost entirely urban. As such, its workforce may be better matched to employer needs, which would reduce the natural level of unemployment.

Singapore: Unemployment rate from 1999 to 2020

Loading statistic...
You need to log in to download this statistic
Register for free
Already a member?
Log in
Show detailed source information?
Register for free
Already a member?
Log in

Release date

October 2020



Survey time period

1999 to 2020

Supplementary notes

Figures have been rounded.

All figures are modeled ILO estimates.

Statista Accounts: Access All Statistics. Starting from $468 / Year
Basic Account
Get to know the platform

You only have access to basic statistics.

Single Account
The ideal entry-level account for individual users
  • Instant access to 1m statistics
  • Download in XLS, PDF & PNG format
  • Detailed references
$59 $39 / Month *
in the first 12 months
Corporate Account
Full access

Corporate solution including all features.

* Prices do not include sales tax.

Statistics on "Singapore"

Statista Accounts: Access All Statistics. Starting from $468 / Year
Learn more about how Statista can support your business.