Annual job growth of 25,000 to 40,000 expected in next 3 to 5 years: Minister

Annual job growth of 25,000 to 40,000 expected in next 3 to 5 years: Minister

Manpower Minister Lim Swee Say said that the number of jobs created is likely to stabilise and the quality of jobs will improve.

Manpower Minister Lim Swee Say. (File photo: Jason Quah/TODAY)

SINGAPORE: Annual job growth in Singapore is likely to "stabilise" in the range of 25,000 to 40,000 positions in the next three to five years, Manpower Minister Lim Swee Say said on Wednesday (Feb 8).

Speaking on the sidelines of a career fair for the aviation industry, Mr Lim said it was unlikely that Singapore would return to the days of 100,000 to 120,000 jobs being created annually.

"More importantly, we expect the quality of jobs to continue to improve, to be better," the Manpower Minister said.

The ministry is also trying to minimise the problems of "missed matches" by jobseekers unfamiliar with the jobs available and where to find them, and mismatches between jobseekers' skills and their jobs, Mr Lim said.

According to Ministry of Manpower (MOM) statistics, Government agencies placed more than 15,000 jobseekers who faced "missed matches" last year, up from 14,000 the year before. They also placed 4,000 jobseekers who had mismatches between their skills and existing employment, up from 3,000 in 2015.

Mr Lim outlined three main priorities for MOM this year: Professional conversion programmes to help workers transit into new jobs and careers, helping small and medium enterprises (SMEs) gain greater access to professionals, managers, executives and technicians (PMETs) and building a more inclusive workforce, especially for rank-and-file workers.

Rising unemployment continues to be a concern for the Manpower Ministry, Mr Lim said, attributing the trend to both lower job growth due to the restructuring of the economy and an ageing workforce.

"We continue to apply our minds (to) what we can do, what more we can do to ensure we can keep it in check," he said.

Source: CNA/mz