Job growth to go down to 2% in Singapore: Lim Swee Say
Job growth in Singapore will slow to 2 per cent due to a structural policy shift to boost competitiveness and productivity and reduce overcrowding, said labour chief Lim Swee Say today.
"It is very obvious that a workforce growth of 4 per cent a year is no longer sustainable both from the economic angle and from a social angle," he said. "If we were to continue at this rate, come 2020 we could expect to see a workforce of more than 4 million."
"We have no choice but to slow down on our workforce growth," he added.
Mr Lim, who is also the Minister in the Prime Minister's Office, was addressing 110 service industry professionals at a learning journey organised by Jumbo Group of Restaurants, together with Spring Singapore, to showcase its customer-centric initiatives.