By Nicolette Yeo; Pictures By TYN 20/20
With full employment, low youth unemployment and steady real wage increases, Singapore’s labour situation is what many other countries would like to have too.
In contrast, the situation for the USA and Europe is rather bleak, as they are plagued by job shortages, sticky unemployment, high youth unemployment and wage stagnation. And in some cases, the loss of the young and better educated workers to greener pastures due to job shortages at home.
In order that this plight never befalls Singaporeans, the country must restructure its economy and reshape its workforce better and faster than other countries.
Like Germany, currently the best-performing economy in Europe, we should strive for solid gain, and continue to invest in manufacturing and services, technology and innovation.
This was the key message made by NTUC Secretary-General Lim Swee Say as he recounted his recent experience at the International Labour Conference 2012.
He was speaking at the Labour Movement’s first National Day Observance Ceremony organised by Young NTUC and nEbO on 3 August 2012 at the Gardens by the Bay, and attended by NTUC Central Committee leaders, youth activists and various Labour Movement representatives.
On the occasion of the nation’s 47th National Day, SG Lim said it was important that all Singaporeans “value our achievements because these achievements did not come easy… and at the same time, let us pledge to work together so that Singapore can continue to stay ahead”.
Highlighting the tough journey ahead given the uncertain global economic outlook, slower growth and higher inflation in the medium term, and fierce global and regional competition, he felt assured that Singapore is well-poised to overcome these challenges.
“Our economic, social foundation is sound; our young… are well educated; our workforce is well trained; and above all, tripartism is strong…” he explained.
“As long as we can continue to transform our economy, reshape our workforce better and faster than the other countries, I believe we can continue to strive for shortages of workers, not shortages of jobs; steady increase in wages, not wage stagnation in the years to come.”
Reflecting on this year’s National Day theme of `Loving Singapore, Our Home’, SG Lim said that the Labour Movement’s aim is to make the country “a good and better place for all Singaporeans to work, live and play as one big family”.
He added: “It is important to constantly remind ourselves that a house is not a home no matter how big, how nice, how comfortable the house is, because what really matters is not what we can see – this house – but rather how we feel about ourselves, our family, our friends, our community, our fellow Singaporeans, as well as how we feel about being Singaporean.”
Look out for the full story and other related articles in the latest issue of NTUC This Week.
