NTUC says Singapore might be 'approaching structural limits' within resident workforce
The National Trades Union Congress (NTUC) has called for further focus on upskilling Singapore's resident workers to help them remain relevant in the labour market.
Desmond Choo, NTUC Assistant Secretary-General, said the country needs to "focus on enhancing the skills and capabilities" of resident workers to keep them adaptable in a changing economy.
"Synergy between industries, workers, and policymakers is essential to sustain this momentum," Choo said on a Facebook post.
The NTUC official was commenting on the Ministry of Manpower's labour market advance release for the second quarter.
The release revealed that the resident unemployment rate declined to an even lower 2.7% from the previous quarter.
Resident employment also saw a decline in the second quarter, while non-resident employment growth accounted for all the increase in the total employment during the period.
"[This] suggests we might be approaching structural limits within our resident workforce," Choo said. "Let's continue to push forward with determination and bravery, ensuring that every worker benefits from the growth and opportunities in our economy."
MOM previously said the contraction in resident employment was expected, as it usually dips or posts smaller increases in the second quarter.
According to MOM, the decline follows widespread recruitment in the prior quarters in relation to year-end festivities.
Overall, Singapore's unemployment rate declined to two per cent in June 2024, down from 2.1% in May.
