Business @ AsiaOne

Growth slowing, but there will still be new jobs

S'poreans will still benefit from the jobs generated.
Sue-Ann Chia

Thu, Jul 10, 2008
The Straits Times

AFTER two years of stunning growth, the job market will be less dazzling this year owing to the slowing economy.
But Acting Manpower Minister Gan Kim Yong remains confident that Singaporeans will benefit from jobs that are generated.

'We may not be able to create as many jobs as last year, but I think there will still be jobs created for Singaporeans. That is the bottom line,' he told The Straits Times.

The slower pace of job creation does not trouble him.

'It's not just a numbers game. We have to look at the quality of jobs we create going forward,' he said.

This is because the job market is at a 'turning point' after hitting a record high last year, with resulting low unemployment levels.

A bumper crop of 236,000 jobs were created, pushing the jobless rate to a 10-year low of 2.1 per cent.

It may be impossible to top that, but the key is to maintain the momentum.

To do so, 'we will have to shift gear, look at different ways of creating opportunities for Singaporeans'.

This has kept Mr Gan busy since his move up from Minister of State to Acting Manpower Minister on April 1.

During the interview, he sketched out his manpower policy masterplan.

One, to have a 'flexible and responsive' labour market that provides sufficient workers during boom times and minimises job losses for Singaporeans in bad times.

Two, forge a 'dynamic and forward-looking' environment that helps them move up the skills and job ladder through training, and prepares them for jobs in growth areas like services.

Three, build a 'progressive and inclusive' workforce by looking at issues like work-life balance, safety and health and retirement income.

There are also ongoing issues: retraining older workers in their jobs, lifting the wages of low-income earners and striking a balance between foreign and Singaporean workers here.

Citing his own situation, he also rejected the view that younger ministers are unable to empathise with the plight of the needy.

Said Mr Gan: 'I didn't come from a very wealthy family. We were rich once, but my father went into bankruptcy. I've been through those years, so I can understand very well how low-income families feel.'

Asked about the tasks ahead, he appeared unfazed: 'They don't give me headaches. So long as our strategy is clear, we can systematically address these issues.'

 
 
 
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