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SINGAPORE: More than 50,000 local workers were hired under the Job Growth Incentive in September last year, a month after the scheme was launched, the Ministry of Manpower (MOM) said on Saturday (January 23) in its 17 and latest Employment Situation Report.
The Job Growth Incentive is a wage subsidy scheme introduced in August with the goal of encouraging companies to hire more locals in response to the economic fallout of COVID-19.
According to the ministry’s preliminary estimates, about half of the 50,000 local hires were 40 years old or older. The main contracting sectors were: food services (7,700 local contracts), wholesale trade (4,600), professional services (4,000), construction (3,300) and education (3,000).
Some 14,000 companies turned to the job growth incentive plan, which expires next month.
Under the S $ 1 billion program, the Government will pay 25 to 50 per cent of the first S $ 5,000 of the gross monthly salary of a local employee for 12 months.
Businesses that accept workers age 40 and over, disabled, and ex-offenders receive a 50 percent reimbursement of salary for hiring, while hiring anyone else gives them a 25 percent rebate.
New hires must earn at least S $ 1,400 per month.
READ: Safety measures in place to prevent abuse of incentives for job growth: Josephine Teo
The number of workers that each of the main hiring sectors admitted under the incentives scheme for job growth. (Image: Ministry of Manpower)
READ: Singapore’s unemployment rate in November fell for the first time in 2020
Speaking to the media on Friday before the report was released, Human Resources Minister Josephine Teo said the government is still reflecting on the possibility of expanding the plan, as the labor market is still mired in turmoil. uncertainty.
“While the signs from November onward are encouraging that unemployment (went down), unemployment has not yet returned to what it was before,” he said.
“And also, I think it’s important for us to remember … that was a data point.”
The incentive for job growth, he added, was introduced with the uneven economic recovery in mind, as some sectors had continued to expand during the pandemic even as others struggled.
The government hoped that the plan would encourage successful companies to hire first rather than wait until the road ahead is clear.
“I cannot say with certainty that the incentive for job growth will continue. So if you have good candidates, don’t hesitate, ”Ms. Teo said.
Job openings in the food and beverage industry
Separately, MOM gave an update on the number of jobs offered in the foodservice sector.
At the end of last year, there were at least 9,200 job openings posted on the MyCareersFuture portal; 37 percent of them corresponded to roles of professionals, managers, executives and technicians, or PMET.
Examples of white-collar positions include sales, marketing, and business development managers, where the monthly salary ranged from S $ 3,000 to S $ 6,500, and food and beverage service managers who could earn between S $ 2,600 and S $ 3,250.
Blue collar roles, such as cooks and waiters, could earn between S $ 2,250 and S $ 3,000, and S $ 1,600 and S $ 2,000 respectively. The ministry said these jobs can offer more flexible work arrangements and are suitable for older workers, students looking for part-time jobs, and caregivers who need more hours of accommodation.
How much job seekers can expect to earn in the food service industry. (Image: Ministry of Manpower)
