Singapore pumps in S$5.4 billion to hire 200,000 locals
Singapore’s dedicated jobs and skills package will receive an additional S$5.4 billion (US$4.08 billion) boost to support the hiring of 200,000 locals this year, providing up to 35,000 traineeship and training opportunities, said Finance Minister Heng Swee Keat at the announcement of the city-state’s budget plans for 2021.
The additional funds come on top of the S$3 billion (US$2.27 billion) allocated to the jobs and skills package in 2020, and will further help workers to take on new jobs, said the minister, who is also Deputy Prime Minister.
Some S$5.2 billion (US$3.93 billion) will go to extending the Jobs Growth Incentive (JGI) for a further seven months.
Under the JGI, businesses that hire local workers from September 2020 to February 2021 will receive a subsidy of 25% of the first S$5,000 (US$3779) of their gross monthly wages. But under the extension up till end-September 2021, firms will receive up to 12 months of wage support.
Companies that hire mature workers, ex-offenders and persons with disabilities will enjoy enhanced wage support, with help of up to 18 months.
Meanwhile, other job programmes such as the SGUnited Skills, SGUnited Traineeships and SGUnited Mid-Career Pathways Programmes will be extended by a year until March 2022.
Aimed to help young workers, the stipend for ITE traineeship positions will be raised to a range of S$1,600 (US$1,209) to S$1,800 (US$1,361), from S$1,100 (US$831) to S$1,500 (US$1,134).
The stipend for diploma traineeship positions will also be increased to S$1,700 (US$1,285) to S$2,100 (US$1,587), from S$1,300 (US$983) to S$1,800 (US$1,361).