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Companies and policies must adapt to continued tight labour market

Published Tue, Mar 10, 2015 · 09:50 PM
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THE Singapore economy will no doubt witness many changes over the next decade. But one thing that very likely, if not certainly, will not change is the state of the labour market; it will continue to be tight - and might even get tighter. That was the sobering message from Manpower Minister Tan Chuan-Jin during the parliamentary debate on his ministry's annual budget on Monday.

The main reason: a shrinkage in the number of local workers entering the workforce by as much as 80 per cent in 2019 compared to today, combined with continued controls on the number of foreign workers. Such prolonged, and progressively increa…

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