Foreign workers to drive job growth in 2022 as Singapore economy reopens
NON-RESIDENT job growth is expected to outpace local employment gains in 2022, analysts have told The Business Times, even as the tight Singapore labour market should add jobs across the board through the year, on the back of a broad domestic and border reopening.
The Ministry of Manpower (MOM) on Thursday (Apr 28) said an ongoing economic recovery will drive demand for workers, helping resident employment to “continue to grow modestly”.
Selena Ling, chief economist at OCBC, noted that the labour market faces both an ongoing rollout of wage ladders aimed at local workers, as well as strict foreign manpower policies.
“I would expect that both resident and non-resident labour demand will continue to pick up ahead,” she said, tip…
GET BT IN YOUR INBOX DAILY
Start and end each day with the latest news stories and analyses delivered straight to your inbox.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Economy & Policy
Global wave of consultancy layoffs has not hit Singapore
Daily Debrief: What Happened Today (Apr 19)
An economy transformed: Lee Hsien Loong’s 20 years as Singapore’s Prime Minister
Daily Debrief: What Happened Today (Apr 18)
Singapore’s first RoboCluster launched for facilities management, to turn R&D into market solutions
Daily Debrief: What Happened Today (Apr 17)