Job growth forecast: 25,000 to 40,000 – 0 to S’poreans?

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Annual job growth of 25,000 to 40,000

I refer to the article “Annual job growth of 25,000 to 40,000 for next three to five years: Lim Swee Say” (Straits Times, Feb 8).

It states that “Singapore aims to create about 25,000 to 40,000 jobs annually for the next three to five years, said Minister for Manpower Lim Swee Say on Wednesday (Feb 8).

“We won’t go back to the days of 100,000 to 120,000 jobs a year,” Mr Lim to the media on the sidelines of a career fair at Crowne Plaza Hotel at Changi Airport. “The number will stabilise at the new base.””

% of the jobs growth to Sporeans?

The problem with jobs growth historically may not be so much the quantum, but the percentage of jobs that go to Singaporeans.

As to “Due to economic restructuring and an ageing workforce, the number of jobs created in the last two years had gone down significantly” –  the statistics for the last two years has been pathetic.

2015-16: Employment growth – 11,400 locals, 37,300 foreigners?

In the two years from January 2015 to December 2016 – employment growth was 11,400 for locals and 37,300 for foreigners.

2015-16: 60,000 new PRs, 40,000 new citizens?

So, with an estimated 60,000 new PRs and 40,000 new citizens granted in the two years from 2015 to 2016 – how many of the 11,400 locals’ jobs went to Singaporeans?

With the projected jobs growth of 25,000 to 40,000 a year, in the next few years – if the average of about 30,000 new PRs and 20,000 new citizens being granted annually, continues – how many of the future jobs growth may go to Singaporeans?

25,000 jobs growth – 0 to S’poreans?

If on the average – say about 25,000 of the new PRs and new citizens granted in a year are working (re-classified from foreign workers to local workers) – it may mean that none of the jobs growth, if we come in at the lower end of the forcast at 25,000 – may go to Singaporeans.

40,000 jobs growth – 0 to S’poreans?

Even if we come in at the higher end of the forecast at 40,000 – if the current trend of 23 per cent locals (Singaporeans and PRs) (11,400)  to 77 per cent foreigners (37,300) is not addressed – perhaps none of the jobs growth may go to Singaporeans too.

Leong Sze Hian

About the Author

Leong Sze Hian has served as the president of 4 professional bodies, honorary consul of 2 countries, an alumnus of Harvard University, authored 4 books, quoted over 1500 times in the media , has been a radio talkshow host, a newspaper daily columnist, Wharton Fellow, SEACeM Fellow, columnist for theonlinecitizen and Malaysiakini, executive producer of Ilo Ilo (40 international awards), Hotel Mumbai (associate producer), invited to speak more than 200 times in about 40 countries, CIFA advisory board member, founding advisor to the Financial Planning Associations of 2 countries. He has 3 Masters, 2 Bachelors degrees and 13 professional  qualifications.