Quality Jobs

Labour market remained resilient

The employment rate of residents aged 25 to 64 in 2023 remained high at 82.6%, compared to the pre-COVID-19 pandemic level of 80.8% in 2019. Based on the Graduate Employment Surveys conducted by the Institutes of Higher Learning between 2019 and 2023, the proportion of graduates [XLSX, 25 KB] from local Autonomous Universities, Polytechnics, and the Institute of Technical Education in the labour force who were employed in 2023 were comparable to 2019. Total employment continued to grow in 2023 as the economy recovered from the pandemic contraction. Employment change was largely due to non-residents returning after pandemic restrictions were lifted. Residents continued to see moderate improvements in employment.

Retrenchments rose in 2023, mainly due to business reorganisation or restructuring. While 9,990 residents were laid off in 2023, at least three in five retrenched residents were able to secure a new job within six months post-retrenchment. Jobseekers can approach Workforce Singapore and NTUC’s Employment and Employability Institute for career matching services. They can also tap on the MyCareersFuture portal, which recommends jobs that suit their skills and competencies.

Resident unemployment and long-term unemployment rates remained low at 2.7% and 0.7% respectively.

In 2023, newly created positions made up 47.3% of job openings, mainly arising from business expansion. A good proportion (56.3%) of these newly created positions were for professional, managerial, executive, and technical (PMET) positions. We will continue to provide upskilling support to Singaporeans so they can seize good job opportunities.

Overall, the share of employed residents in PMET jobs rose from 58.4% in 2019 to 62.6% in 2023. The proportion of PMETs continued to increase in growth sectors such as Information & Communications and Financial & Insurance Services.

Read more: Labour Market Report Fourth Quarter 2023 | Labour Force in Singapore 2023 | Job Vacancies Report 2023

Read more: Education | Economy and Labour Market

Residents generally saw an increase in their wages over the past few years.

Singaporeans are encouraged to upskill and reskill so they can benefit from better career prospects and higher wages.

Empowering Singaporeans to seize opportunities

The Government supports Singaporeans in taking charge of their career health and seizing good job opportunities.

• Jobseekers are supported by our nationwide network of five career centres and 23 Jobs and Skills Centres. In 2023, we launched the CareersFinder feature on MyCareersFuture portal to provide personalised job and training recommendations to jobseekers. As at June 2024, more than 35,000 individuals have used CareersFinder.

Individuals are given opportunities at various life stages to reskill and upskill, to remain relevant.

• For new Polytechnic and ITE graduates, the SkillsFuture Work-Study Programme enables them to gain industry-relevant skills by combining structured on-the-job training and classroom learning. From the launch of the programme in 2015 to 2023, over 11,000 graduates were placed into jobs.

• For mid-career individuals, the Career Conversion Programmes (CCP) and SkillsFuture Career Transition Programme (SCTP) help them pivot towards new job roles with longer-term growth prospects. Between 2019 and 2023, close to 36,000 workers (around 50% of whom are individuals aged 40 and above) benefitted from the CCP. Since its launch in April 2022 to 2023, about 5,000 trainees participated in the SCTP.

With the increasing pace of technological disruption and business transformation, some workers may lose their jobs due to retrenchments or when businesses fold. Some jobseekers may rush into jobs that do not match their skills and aspirations. From April 2025, involuntarily unemployed jobseekers will be supported through the new SkillsFuture Jobseeker Support scheme. This provides temporary financial support while they undergo skills training, career coaching, and job matching services as they actively look for a job that fits their skills and aspirations.

Read more: Education | Economy and Labour Market

Improving wages while further reducing wage gaps

We made good progress in uplifting lower-wage workers through close collaboration with employers and unions. Between 2018 and 2023, real income increased faster for workers at the 20^th percentile than at the median, even though it fell between 2022 and 2023.

• Lower-wage workers are supported through the Progressive Wage Model (PWM), which allows them to earn more and take on more complex job roles through structured progression pathways that improve their skills and productivity.

• To keep pace with rising local wages and ensure lower-wage workers continue to be uplifted alongside the rest of Singapore, we raised the Local Qualifying Salary (LQS) from $1,400 to $1,600 in July 2024. This meant that workers in companies that hired foreign workers previously earning below $1,600 would have seen their wages increase to at least $1,600.

• To ensure that PWM and LQS requirements do not inadvertently affect the employment prospects of lower-wage workers, transitional co-funding support is provided to employers through the Progressive Wage Credit Scheme. In 2022, we co-funded wage increases for over 345,000 employees, given by over 70,000 employers, with disbursements amounting to about $1 billion.

Collectively, the PWM, LQS, and Progressive Wage Mark accreditation scheme benefitted up to nine in 10 full-time lower-wage workers.

In addition, lower-wage workers are supported by the Workfare Income Supplement (WIS) scheme and Workfare Skills Support scheme, to meet their retirement and upskilling needs. We enhanced WIS in 2023 to increase the qualifying income cap to $2,500 a month and the maximum annual payout to $4,200. In 2023, 388,000 lower-wage employees benefitted from around $914 million in WIS disbursements.

Read more: Retirement | Social Safety Nets

Fostering inclusive and progressive workplaces

As part of the Forward Singapore exercise, Singaporeans highlighted the importance of flexible work arrangements (FWAs) to help them better balance work and caregiving responsibilities. In 2023, 68.1% of establishments offered at least one type of scheduled FWA, higher than the pre-pandemic level of 52.7% in 2019. To establish workplace norms around FWAs, the Tripartite Guidelines on Flexible Work Arrangement Requests will require all employers to consider and properly assess formal FWA requests from employees from December 2024.

Harmonious workplaces are also key to promoting Singaporeans’ well-being at work. We made progress in upholding workplace fairness. Based on the Fair Employment Practices 2023 report, there was a continued decline in the proportion of Singapore residents in the labour force who experienced discrimination at the workplace and during their job search from 2022 to 2023. The number of workplace discrimination complaints received by the Tripartite Alliance for Fair and Progressive Employment Practices (TAFEP) also fell from 264 in 2022 to 220 in 2023. TAFEP will continue to look into all complaints.

To further strengthen workplace fairness, the Government will be introducing the Workplace Fairness Legislation. When enacted, the law will require employers to establish grievance-handling processes and provide protection for those who report workplace discrimination or harassment.

We introduced measures to support Singaporeans’ mental health at the workplace. Based on iWorkHealth data collected in 2022, one in three employees experienced work stress and/or burnout. Singaporeans can look forward to more support for mental health and well-being at workplaces under our National Mental Health and Well-being Strategy.

Read more: Health and Wellness | Retirement

Enabling Singaporeans to pursue successful careers

A lifelong pursuit of new and different skills is essential to remaining relevant and agile in one’s career. We will continue to create meaningful opportunities for all Singaporeans, empower Singaporeans to take charge of their careers, and embrace learning new skills in a positive environment. Singaporeans can continue to thrive in multiple, diverse job roles and professions.