Singapore to create 100,000 job opportunities

The Singapore government is planning to create close to 100,000 job opportunities in its latest measure to stave off the economic impact of COVID-19. In a televised parliamentary speech on May 26, Deputy Prime Minister and Finance Minister Heng Swee Keat announced that the government would be rolling out a S$2 billion (US$1.41 million) SGUnited Jobs and Skills Package to finance 40,000 jobs, 25,000 trainee positions, and 30,000 skills training placements.

Approximately half the jobs will be created by the public sector, and will be a mix of long-term positions, including healthcare and early childhood education, and short-term positions related to COVID-19 operations. The other half will be created in partnership with the private sector, as will the traineeships and skills training positions. While Heng did not guarantee that the training positions will lead to employment, he said that this skilling program will nevertheless help jobseekers in their search.

This massive push to generate employment comes as part of the fourth national Budget Singapore has announced this year. Dubbed the "Fortitude Budget", it focuses on jobs: creating employment and upskilling opportunities for new graduates, mid-career industry switchers, and those who have been put out of work by COVID-19.

Besides job creation, the Fortitude Budget also extends the Jobs Support Scheme first announced in February, heavily subsidizing the wages of local employees to take cost pressures off businesses in the city-state.

With this latest package, Singapore will be spending a total of S$92.9 billion (US$65.6 billion), nearly 20 percent of its annual GDP, on buffering its businesses and workers against COVID-19. The bulk of the money has been dedicated either to creating new jobs, preserving existing ones, or supporting workers who have lost their jobs as a result of the pandemic.