news-singapore_strategy_to_help_workers_cope_with_downturn

Channel News Asia - 17 June 2009
Singapore’s strategy to help workers cope with downturn works

Singapore’s Manpower Minister, Gan Kim Yong, has said that the US$13.7 billion budgeted to help Singaporeans deal with the economic downturn has been money well spent.

Speaking at an International Labour Conference in Geneva, Mr Gan noted that initiatives like the Skills Programme for Upgrading and Resilience (SPUR) have helped to save jobs.

In the first quarter alone, Singapore’s unemployment stood at 3.3 per cent — one of the lowest in the world, despite Singapore’s economy slowing down by 10.1 per cent year—on—year.

A recent tripartite survey also showed that more than six in 10 employers had deferred or reduced retrenchments, thanks to SPUR and the Jobs Credit Scheme that encourage businesses to save jobs.

Mr Gan added that more workers have also gone for training under SPUR, boosting the quality of Singapore’s workforce.

Moving forward, he said Singapore remains focused on long—term objectives, such as to develop a globally competitive workforce, enhance income security and lifelong learning, and to continue to build globally leading workplaces.

This can be done by improving occupational safety and health, and promoting progressive human capital development and employment practices.

"Although the economic outlook is still uncertain, with strong tripartite cooperation and commitment, we are confident that we will weather the crisis and emerge stronger than before," said Mr Gan.