In his New Year address, Singapore’s Prime Minister Lee Hsien Loong assures the public that the government remains vigilant despite an easing labour market
In his New Year Message, Prime Minister Lee Hsien Loong assured the public that Singapore is ‘not doing badly’ in terms of the economy but the government is keeping a close watch.
He added that the labour market has eased, unemployment remains low, and jobs continue to be created.
“I know many employers and workers are concerned, but rest assured the Government is watching this closely,” he said.
He proceeded to list down the many ways the government has tried to help ease the burden on employers and workers such as the various SkillsFuture programmes.
“SkillsFuture ramped up its Earn and Learn Programme, study awards and fellowships for various sectors while industry transformation maps are being developed for different industries,” he said, according to a report by TODAYOnline.
He also asked employers to be on the lookout for a report by the Committee on the Future Economy.
He noted that the committee is “working on longer term strategies for growth and its recommendations will be published in a few weeks”.
Lee also reported that the government will continue to strengthen its ties with “overseas partners to create opportunities for Singapore companies and Singaporeans”.