Singapore's unemployment rate predicted to edge up to 1.9%

But it's still a 'rosy picture'.

According to DBS, the labour market is still tight despite the disappointment on the growth front. So how to reconcile the two sides of the coin when one considers the outlook for the Singapore economy?

Indeed, the preliminary unemployment rate data for 1Q13 will be announced today and market is expecting things to remain fairly unchanged.

Here's more from DBS:

A forecast of 1.9% sa is reflected in the market survey result, which is just a tad higher than the previous quarter’s 1.8%.

That’s a fairly rosy picture considering that Singapore’s natural rate of unemployment is widely regarded as 2.0%. Anything less than that shows that the labour market is buoyant and probably a bit too tight for its good.