Understanding employment statistics and labor market analysis
Unemployment fell to 2.7% in April 2026, but the nominal wage index was flat at 114.9. Real-wage conditions improved as CPI inflation eased, yet wage momentum slowed.
The MIC-released April 2026 unemployment rate was 2.7%, improving 0.1pt from March. Shows reversal from March peak but remains above the 12-month average.
Unemployment 2.8% in Mar 2026; nominal wage index 114.9 (+0.6% m/m). With easing labor supply-demand and slowing inflation, can the wage–price virtuous cycle persist?
March unemployment rose 0.2 pts to 2.8%, the highest since Apr 2024, signaling easing labour market conditions. Analysis of corporate hiring stance and outlook.
Feb 2026 unemployment 2.6% (unchanged); job-to-applicant ratio 1.18; nominal wage index 113.8. CPI slowdown improves real purchasing power.
Feb 2026 unemployment rate was 2.6%, unchanged from the prior month; ranged 2.4–2.7% over the past 12 months, indicating continued labor market stability.
Jan 2026: unemployment 2.6%, job‑to‑applicant ratio 1.18, nominal wage index 113.8. Real wages show signs of improvement amid slowing inflation.
Jan 2026 unemployment rate rose to 2.6%, up 0.2 pts from Dec. Although a reversal from Nov–Dec, the rate has stayed in a 2.4–2.7% range over the past 12 months, indicating continued tightness.
Dec 2025 employment: unemployment 2.4%, job-to-applicant ratio 1.19, nominal wage index 112.9. CPI slowdown improves real wage environment.
