Masterplan to continue growth in Singapore

For the past 2 years, the economy has been on the rise and there were many jobs created, benefiting both foreign and local workers in Singapore. A flourishing 236,000 jobs were created; lowering the overall unemployment rate to a 10-year low of 2.1 percent. However, the job market will be at moderate this year and the government may not be able to generate as many jobs as last year. But Acting Manpower Minister Gan Kim Yong is certain that there will still be jobs created for Singaporeans.

After hitting the highest record last year, they need to look at the quality of jobs being created and therefore will find alternative ways to produce new and better opportunities for Singaporeans. The bottom line is, they just need to maintain the momentum in order to lower and lessen the unemployment in Singapore.

During Mr. Gan’s interview with The Strait Times, he mentioned his manpower master plan:

First is to have a 'responsive and flexible' labour market. Since there are a lot of foreign workers in Singapore, the companies can access the skills that they need from the present local talents as well as foreign professionals. Therefore, minimizing job loss in bad times.

Second is to form a 'dynamic and forward-looking' environment. This emphasizes the skills training and upgrading of workforce.

Third is to build a ‘progressive and inclusive’ workforce. This incorporates enhancing the well-being of workers. Addressing and evaluating issues regarding health, safety as well as retirement income.

Apart from these, issues like retraing older workers, considering giving the low-income earners wage increase, and balance between foreign and local workers are also being addressed.

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