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Singapore launches S$1b Jobs Growth Incentive scheme with special focus on mature workers
THE Singapore government has launched a S$1 billion Jobs Growth Incentive (JGI) scheme as part of efforts to create new jobs, with a special focus on mature workers.
Under the scheme, the government will co-pay up to 25 per cent of salaries of all new local hires in firms that can increase their headcount of local workers over the next six months for one year, subject to a cap. For those aged 40 and above, the co-payment to firms will be up to 50 per cent.
"There are bright spots amidst the severe economic situation. Our biomedical sciences, financial services, and ICT (information and communications technology) sectors continue to need more workers," said Deputy Prime Minister and Finance Minister Heng Swee Keat on Monday.
"The public healthcare and long-term care sectors are hiring. Some firms in the F&B (food and beverage) and manufacturing sectors are growing and innovating."
The programme will support firms to increase their headcount of local workers over the next six months, he added.
The Ministry of Manpower will provide more details later this month.
Mr Heng also noted that to better flow workers to new opportunities, the government has set up 24 SGUnited Jobs and Skills Centres in the heartlands.
"I encourage jobseekers to visit these centres and make the best of the resources available - to find a suitable job, traineeship, attachment or training. This way, you are better prepared when the job market recovers."