Economics
Singapore Warns of ‘Urgent’ Job Loss Challenge in Year Ahead
- Job losses over next six to 12 months will be major challenge
- Sheer uncertainty in global economy means fewer job openings
A pedestrian wearing a protective mask walks through the garden area at Guoco Tower in the central business district of Singapore, on June 2.
Photographer: Lauryn Ishak/BloombergThis article is for subscribers only.
One of Singapore’s top political leaders said the city-state faces a “major and urgent challenge” in the next six months to a year, warning of more job losses ahead amid the coronavirus outbreak.
The comments from Tharman Shanmugaratnam came after he chaired the first meeting for a council that included business groups and government leaders to seek new job opportunities to cope with the slowdown. About 100,000 jobs, both permanent and temporary, and training opportunities could be created from that initiative, he said.