Labour chief Lim Swee Say is going for a hat trick.
He wants Singapore to aim for a 'triple achievement' of doing better than the global economy, keeping jobless figures low and having one of the highest employment rates for all workers.
'This triple achievement will not come easy,' acknowledged the secretary-general of the National Trades Union Congress (NTUC), in his May Day message yesterday, ahead of Labour Day.
He already sees problems looming.
'Globally, the economy is projected to grow slower, the unemployment rate is expected to increase, and inflation is predicted to rise, while energy and fuel costs stay high,' he said. The confluence of these factors means it will be tough to repeat last year's growth rate of 7.7 per cent, which was better than the world's average of 4.9 per cent.
That growth led to an unemployment rate that was a 10-year low of 2.1 per cent. And layoffs plunged to a 14-year low while wage increases in the unionised sector hit a peak not seen since 2000.
But despite the uncertainties, Mr Lim remains optimistic about the year ahead.
Singapore is still targeting a 4 to 6 per cent growth rate this year, higher than the projected global average of 3.7 per cent, he noted.
'It is important that we keep growing our economy and creating jobs for our people, because we believe this is the best way to help Singaporeans cope with a higher cost of living and live a more meaningful life,' he said.
Mr Chua Hak Bin, a strategist at Deutsche Bank's Private Wealth Management, agreed that last year's showing would be a tough act to follow.
But he believes it can be done by maintaining the momentum.
'Hopefully, the economic cycle will be less volatile and we can maintain and perform better than most regions,' he said.
To keep the economy humming, the labour movement aims to do 'even better' for two groups of Singaporeans: women and older people.
Mr Lim, who is also Minister in the Prime Minister's Office, is confident Singapore stands a better chance than most countries in getting more of them back into the workplace.
His reason: the country's unique strength in tripartism - the strong bonds among unions, employers and the Government.
NTUC president John de Payva, in his May Day message, spoke about the changes in the labour movement to ensure it kept pace with the needs of workers.
One change is the new logo that will be unveiled today. 'While our former symbol has served us well through thick and thin...the pressing need to keep up with our workers and bridge the gaps has come,' he said.
'Therefore, to reflect the progressive spirit and dynamism that we possess, the time is right to refresh our brand so that we can continue, with greater momentum, to serve our workers.'
This article was first published in The Straits Times on April 27, 2008
