Slower growth in Singapore, but jobs may be easier to find and pay more

October 29, 20132:44 pm296 views
Slower growth in Singapore, but jobs may be easier to find and pay more
Slower growth in Singapore, but jobs may be easier to find and pay more

Singapore’s economic growth has slowed somewhat in recent years but the man on the street may be forgiven for not realising it.

Despite the local economy entering a phase of lower medium-term growth since 2010, the labour market is expected to continue operating at full employment, with wages tipped to grow strongly, according to the Monetary Authority of Singapore (MAS).

On the flip side, inflation is also expected to stay elevated as business costs rise.

The central bank highlighted in its macroeconomic review on Tuesday that Singapore’s manpower situation is “likely to become more constrained” because of the reduction in foreign worker numbers and a slowdown in the pace of local residents joining the labour force each year.

 

source: straitstimes.com

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