Tuesday, 26 October, 2021

S’pore’s jobs growth incentive extended to March 2022: MOM

S’pore’s jobs growth incentive extended to March 2022: MOM

SINGAPORE: Singapore is extending the Jobs Growth Incentive (JGI) to March 2022 to support employers that are expanding their local workforce, the Ministry of Manpower (MOM) said on Friday.

“We expect the road ahead to continue to be uneven, so to secure the recovery and support our local jobseekers, we will extend the scheme by another six months,” Manpower Minister Tan See Leng told reporters following a visit to Alcon Singapore, report agencies.

This comes as the labour market is not fully back to pre-Covid-19 levels, even as Singapore’s second-quarter employment data showed a gradual recovery, said Dr Tan.

The extent of support from October to March 2022 will be reduced, in line with improving economic conditions, he added.

Companies hiring non-mature locals below 40 will get 15 per cent wage support of the first S$5,000 for up to six months in this third phase of the JGI, down from 25 per cent of the same amount for 12 months in the first two phases. They will get 50 per cent of the first S$6,000 for up to 12 months if they hire mature workers, persons with disabilities or ex-offenders. This is a reduction from the 50 per cent support of the first S$6,000 for 18 months they received in Phase Two of the JGI from March to September this year. “The JGI remains an extraordinary measure and not a permanent scheme... As such, I would like to encourage employers who have growth plans to accelerate and bring forward their hiring of locals,” Dr Tan said, urging them to do so during this extended qualifying period.

The JGI was introduced in September 2020 as a pandemic response measure to support employers hiring locals. As of May, close to 400,000 locals were hired by 58,000 businesses, 99 per cent of which were small and medium enterprises.