LEE VOWS TO TACKLE RIS­ING UN­EM­PLOY­MENT

Govt will help busi­nesses cre­ate new jobs and re­train work­ers

New Straits Times - - Business -

SIN­GA­PORE is help­ing those who have lost their jobs find new ones, par­tic­u­larly for in­dus­tries which are not do­ing well, such as the oil sec­tor.

With oil prices fall­ing sharply, and an over­ca­pac­ity lead­ing to no new or­ders for drilling rigs in the past two years, the off­shore and marine in­dus­try has lost about 30,000 jobs since its last peak.

Last year, about 1,000 work­ers in the in­dus­try lost their jobs and “another few hun­dreds” are ex­pected to do so this year.

Lee said the unions had been help­ing the af­fected work­ers find new jobs in other sec­tors that needed sim­i­lar skills, such as the transport and avi­a­tion in­dus­tries.

Re­trenched en­gi­neers from off­shore and marine in­dus­tries can find new jobs there, with some re­train­ing, for ex­am­ple.

Lee re­it­er­ated that work­ers needed to con­stantly up­grade, like what em­ploy­ees in other coun­tries were do­ing. To­day

Prime Min­is­ter Lee Hsien Loong says in or­der for Sin­ga­pore to con­tinue to pros­per, it boils down to three things — jobs, jobs, jobs.

AP PIC

Sony Corp shares rose three per cent to 3,873 yen at the close in Tokyo yes­ter­day, their high­est since May 2015.

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