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Need to look out for PMEs as economy restructures [06-08-2013]  
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Acting Manpower Minister Tan Chuan-Jin said there is a need to look out for professionals, managers and executives (PMEs) as they will be affected as businesses restructure.

Speaking at the Manpower Ministry's National Day Observance Ceremony, Mr Tan reiterated the need for the Singapore economy to restructure as it moves towards being driven by productivity and innovation.

He said this means job-matching services are more essential than ever to help those PMEs who have lost their jobs to get back on their feet.

As for lower-wage workers, Mr Tan said the Workfare Scheme has been enhanced this year to give more income support to more lower-wage workers and to improve their skills through training.

At the same time, Mr Tan said the government should also look into putting in place progressive workplaces to draw and retain older workers and back-to-work women.

He also said there is a need to moderate labour growth even as more jobs were created this quarter than the last.

"Employment creation remains robust. It has increased from 28,900 jobs from the previous quarter to 32,500 this quarter. The labour market remains tight. In a way, it is a good thing because our workers have options, but it also means that we are still relying too heavily on labour to boost our growth." he said.

Mr Tan added that while growth is still important, it needs to be sustainable.

"I think we do need to moderate our pace of growth in order to achieve a more sustainable and inclusive level of growth. I think we are able to do that because we do have a reasonable state of jobs creation and that has allowed us the space to carry out this restructuring in this decade."

Mr Tan said there is a need to moderate labour growth because of the strain on Singapore's infrastructure and social fabric.

Source:BLOOMBERG
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