Why does the jquery change event not trigger when I set the value of a select using val()?

The logic in the change() event handler is not being run when the value is set by val(), but it does run when user selects a value with their mouse. Why is this?

<select id="single">
    <option>Single</option>
    <option>Single2</option>
</select>

<script>
    $(function() {
        $(":input#single").change(function() {
           /* Logic here does not execute when val() is used */
        });
    });

    $("#single").val("Single2");
</script>