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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

Resident permit

Around the web

Limiting immigration hurts public finances

If the UK commits to limiting net migration to the ‘tens of thousands’ each year, the country is projected to suffer losses of up to £12bn a year in public finances by 2023, says a new study.

Employees in an office

Aeriel view of fish farm

Around the web

From IT to fish farming

Mr Malcolm Ong spent 20 years in the IT industry surrounded by computers, wearing shirts and pants and working in an air-conditioned environment. Now he wears shorts and slippers, spending many hours in the sun each day.

Hands coming together

Employees in an office

Articles

Why this consumer company is a “Fave” among employees

Fave Singapore looks set to become the next big consumer deals app in Asia. We take a peek inside their office and find out their secret sauce: constant collaboration and skills sharing among employees who hail from different countries but form a collegial community.

Around The Web

aroundtheweb

Limiting immigration hurts public finances

If the UK commits to limiting net migration to the ‘tens of thousands’ each year, the country is projected to suffer losses of up to £12bn a year in public finances by 2023, says a new study.

aroundtheweb
aroundtheweb

From IT to fish farming

Mr Malcolm Ong spent 20 years in the IT industry surrounded by computers, wearing shirts and pants and working in an air-conditioned environment. Now he wears shorts and slippers, spending many hours in the sun each day.

aroundtheweb
aroundtheweb
aroundtheweb

Start-up for Seniors

At one South Korean tech start-up, employees sit in neat rows, tapping away at computers. But these aren’t young, or even middle-aged workers. Instead, everyone in the company is at least 55 years old.

aroundtheweb
aroundtheweb
aroundtheweb