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Jobs & Economy

We want an economy that provides good jobs, opportunities and continued real wage growth. This is the way to ensuring that economic growth benefits all Singaporeans. How far we get there ties in closely with choices we make around our population and investment in developing our future workforce.

Get an overview

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The issue

With an ever-changing global environment, technological changes and a slowing local labour force growth, our economy will face new challenges and opportunities. We will have to get used to a tight labour market and find innovative ways of doing businesses so that companies can grow and succeed here.

At the heart of our economy is our local workforce which is complemented by foreigners where needed. However, this needs to be managed at a pace that can be comfortably supported by our infrastructure, and while still keeping our social fabric strong and cohesive.

What Being Done

What we need

  1. An open and vibrant economy, driven by productivity and with a lower reliance on manpower.
  2. A strong local workforce, with more Singaporeans remaining in the workforce and equipped with the skills to do well.
  3. Fair and progressive workplaces, where everyone is valued for their skills and hard work, regardless of background and age.

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What's being done

  • Tightened foreign manpower policies while providing support for businesses to shift towards skills- and capital-intensive ways to grow.
  • Ensure that Singaporeans are considered fairly for job opportunities, e.g. Fair Consideration Framework.
  • Support for Singaporeans who wish to remain in the workforce, such as expanding childcare facilities for working mothers and extending the re-employment age.
  • Foster a culture of lifelong learning and support Singaporeans in developing to their fullest potential, e.g. SkillsFuture initiative.
  • More support for low-wage and vulnerable workers, e.g. Workfare and the Progressive Wage Model.

Perspectives Get the population angle on jobs and economy in Singapore

Around the web

Watch: A bedtime kerfuffle

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Are Singapore’s workplaces biased? This award-winning video is a striking reminder that negative mindsets – towards those who are older, female, or with disabilities – have to be changed today, to avoid them being inherited by the next generation.

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Articles

Four ways to pursue your dream - A millennial's perspective

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Degrees today don’t necessarily lead to jobs, but millennials also fear taking unconventional paths to pursue their interests. But all isn’t lost. Hear from one millennial on how she plans to chase her dream.

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Pop Explains

How does an ageing population affect our labour force?

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Increasing longevity presents opportunities for Singapore’s economy, as our older residents are working longer or re-joining the labour force. However, there are limits to how much our labour force size can grow because of our demographic realities.

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Pop Explains

Foreign workforce: Good or bad?

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Foreigners of different backgrounds, skills and experiences are an integral part of our workforce. What exactly do they bring to the table? Do they steal our jobs or do they save our economy?

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Around The Web

aroundtheweb

Watch: A bedtime kerfuffle

Are Singapore’s workplaces biased? This award-winning video is a striking reminder that negative mindsets – towards those who are older, female, or with disabilities – have to be changed today, to avoid them being inherited by the next generation.

Shares 0 Comments
aroundtheweb
aroundtheweb