Headlines in the Straits Times:
Better job prospects but long-term jobless figures up.
Number of resident unemployed for at least 25 weeks highest in Sept: MOM report.
Who are the unemployed residents who could not find jobs for 6 months or longer?
I guess they are:
a) PMETs
b) Unemployed graduates.
If we include the young people driving Uber and Grab, the figures would be more worrisome. It would add to the long-term problem.
What are the underlying causes of this situation?
Much has been written about the plight of PMETs who are displaced by cheaper "foreign talents". Our PMETs cannot accept the lower pay as they have families to feed and mortgages to pay, and these are very expensive in Singapore. Even if they are willing to accept lower pay, the employers still prefer foreign workers for various reasons.
What about the unemployed graduates and those who are "employed" as Grab or Uber drivers? We have a serious problem about the waste of resources. These graduates spend several years to acquire a paper degree that do not get them a job.
The economy provide jobs for only a certain number of graduates each year, and these jobs go to the better quality graduates. The rest could not find jobs.
In the past, these graduates could work as property or insurance agents. Even these lucrative jobs are now in over-supply and the demand for their services have also dropped.
There are real jobs that have to be done in the economy, such as in the construction, engineering and technical fields. However, these jobs required real skills that the grauduates do not have. Their time was spent in acquiring the paper degree.
We have serious challenges to address. They require a restructing of the pay structure of jobs and the education system.
We also have to restructure the "national service" obligations imposed on our young males over more than a dozen years, putting them at a disadvantage against foreign workers.
Better job prospects but long-term jobless figures up.
Number of resident unemployed for at least 25 weeks highest in Sept: MOM report.
Who are the unemployed residents who could not find jobs for 6 months or longer?
I guess they are:
a) PMETs
b) Unemployed graduates.
If we include the young people driving Uber and Grab, the figures would be more worrisome. It would add to the long-term problem.
What are the underlying causes of this situation?
Much has been written about the plight of PMETs who are displaced by cheaper "foreign talents". Our PMETs cannot accept the lower pay as they have families to feed and mortgages to pay, and these are very expensive in Singapore. Even if they are willing to accept lower pay, the employers still prefer foreign workers for various reasons.
What about the unemployed graduates and those who are "employed" as Grab or Uber drivers? We have a serious problem about the waste of resources. These graduates spend several years to acquire a paper degree that do not get them a job.
The economy provide jobs for only a certain number of graduates each year, and these jobs go to the better quality graduates. The rest could not find jobs.
In the past, these graduates could work as property or insurance agents. Even these lucrative jobs are now in over-supply and the demand for their services have also dropped.
There are real jobs that have to be done in the economy, such as in the construction, engineering and technical fields. However, these jobs required real skills that the grauduates do not have. Their time was spent in acquiring the paper degree.
We have serious challenges to address. They require a restructing of the pay structure of jobs and the education system.
We also have to restructure the "national service" obligations imposed on our young males over more than a dozen years, putting them at a disadvantage against foreign workers.
We can look towards Germany and Switzerland for the answers to these challenges.
Fortunately, with the huge reserves, the government has the financial resources to deal with these challenges. We need them to have the wisdom to recognize the real problems and the courage to deal with them. Are our ministers up to mark?
Tan Kin Lian
Fortunately, with the huge reserves, the government has the financial resources to deal with these challenges. We need them to have the wisdom to recognize the real problems and the courage to deal with them. Are our ministers up to mark?
Tan Kin Lian
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