While TJC's answer is of course correct, I don't think it addresses the issue of what people actually mean when they say that "JavaScript is single-threaded". What they're actually summarising (inaccurately) is that the run-time must behave as if has a single thread of execution, which cannot be pre-empted, and which must run to completion. The actual runtime can do anything it likes as long as the end result behaves in this way.
This means that while a JavaScript program may appear to be massively parallel with lot of threads interacting with each other, it's actually nothing of the sort. A kernel controls everything using the queue, event loop, and run-to-completion semantics (briefly) described here.
This is exactly the same problem that Hardware Description Languages (VHDL, Verilog, SystemC (though not actually a language), and so on) face. They give the illusion of massive parallelism by having a runtime kernel cycle between 'processes' which are not pre-emptible, and which must run until defined suspend points. The point of this is to ensure that models are executed in a determinate, repeatable fashion.
The difference between the HDLs and JS is that this is very well defined and fundamental for HDLs, while it's glossed over for JS. This is an extract from the SystemC LRM, which covers it briefly - it's much better defined in the VHDL LRM, for example.
Since process instances execute without interruption, only a single
process instance can be running at any one time, and no other process
instance can execute until the currently executing process instance
has yielded control to the kernel. A process shall not pre-empt or
interrupt the execution of another process. This is known as
co-routine semantics or co-operative multitasking.