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86 Singapore Q4 2021 Total Labor Force (000s) 3,684 Employed Workers (000s) 3,588 Unemployed Workers (000s) 96 Unemployment Rate 2.6% 3,234 3,651 3,654 3,610 3,588 Q4 2019 Q2 2020 Q4 2020 Q2 2021 Q4 2021 2.3% 2.4% 3.6% 2.9% 2.6% Q4 2019 Q2 2020 Q4 2020 Q2 2021 Q4 2021 93% - First Vaccine Dose (December 2021) Covid Update Vaccinations are not mandatory however, high risk sectors may require vaccination prior to recruitment. Non-vaccinated employees in high-risk sectors, may be redeployed or required to test at the employee's expense. Singapore will charge healthcare costs for non vaccinated Covid patients. 17% 17% 7% 0% 25% 50% 75% Employer Tax Profit Tax VAT Singapore Regional Average Other Cost Considerations - Tax Indicative Wages (USD) $4,049 $3,613 $5.44 $0 $5 $10 $15 $0 $2,500 $5,000 Average Wage Manufacturing Wage Minimum Wage Singapore Regional Average In June '21, there were almost 94K open job vacancies. Research by Mercer suggests that wages will increase by an average of 3.5% during 2022. During October, year on year inflation rose to 3.2% which is the highest in 8 years. Working Population (in Thousands) Over Time Unemployment Rate Over Time Labor Force Statistics Hiring Demand Trend by Experience Level TalentNeuron Monthly Hourly Key Sources: https://wageindicator.org/ https://ilostat.ilo.org/ https://www.worldbank.org/ https://tradingeconomics.com/ https://home.kpmg/xx/en/home.html https://taxsummaries.pwc.com/ https://www.singstat.gov.sg