Singapore: Singapore will allocate S$1 billion ($733 million) to domestic staff to protect local jobs amid pandemic recovery, the Ministry of Labour said on its website.
Some corporations in the island state will get up to S$15,000 for local rent less than 40 and S$30,000 for seniors, according to the announcement. The government will pay 25% of the first S$5,000 of the monthly wages of underage workers. 40 for a year and 50% for those over that age, he said.
To be eligible, corporations will need to increase their number of local workers over the next six months, i. e. on jobs earning at least S$1,400 according to the month. The rule applies to companies created on or before August 16.
The issue of local employment has been the focus of fear recently, with the Singaporean government taking several steps to improve domestic competition and reduce the number of foreign personnel on its shores. Last month, the government announced an increase in minimum wages for jobs and S – pass holders, which can make it more difficult for companies to hire foreign staff compared to Singapore candidates.
The country faces the worst recession in its history amid the coronavirus pandemic. Singapore’s unemployment rate rose to 2. 9% this quarter, the highest in a decade since the global currency crisis.
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