In an exclusive interview with The Big Story’s Multimedia journalist Hairianto Dirman, Manpower Minister Tan See Leng said higher wages are inevitable amid surging inflation, and companies here need to find ways of competing other than on low labour costs.

Meanwhile, Singapore’s job market continued its recovery in the second quarter of this year but global headwinds, such as rising inflation, the Russian-Ukraine conflict and a resurgence of Covid-19 infections in major economies including China, may dampen labour demand.

According to advance estimates released by the Ministry of Manpower, resident employment has surpassed pre-Covid-19 levels by around 4 per cent since December last year and will likely see subdued growth due to the improving unemployment situation.

In an exclusive interview with The Big Story’s Multimedia journalist Hairianto Dirman, Manpower Minister Tan See Leng said higher wages are inevitable amid surging inflation, and companies here need to find ways of competing other than on low labour costs.
Meanwhile, Singapore’s job market continued its recovery in the second quarter of this year but global headwinds, such as rising inflation, the Russian-Ukraine conflict and a resurgence of Covid-19 infections in major economies including China, may dampen labour demand.
According to advance estimates released by the Ministry of Manpower, resident employment has surpassed pre-Covid-19 levels by around 4 per cent since December last year and will likely see subdued growth due to the improving unemployment situation.

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Money Matters is your guide to navigating the day's most important topics, from politics and current affairs to wealth management and trending issues. Every evening, the team delivers insightful discussions on business news, market movements, and the latest in alternative assets. Whether navigating the political landscape, understanding the economy, or uncovering emerging investment opportunities, Money Matters keeps you informed and ahead of the curve. Tune in daily to Hongbin Jeong and Chua Tian Tian from 4 pm to 7 pm on MONEY FM 89.3.

Money Matters is your guide to navigating the day's most important topics, from politics and current affairs to wealth management and trending issues. Every evening, the team delivers insightful discussions on business news, market movements, and the latest in alternative assets. Whether navigating the political landscape, understanding the economy, or uncovering emerging investment opportunities, Money Matters keeps you informed and ahead of the curve. Tune in daily to Hongbin Jeong and Chua Tian Tian from 4 pm to 7 pm on MONEY FM 89.3.