Business
By Chew Hui Min 14 Jul 2021 11:13AM (Updated: 14 Jul 2021 11:20AM )
SINGAPORE: More than 270,000 Singaporeans and permanent residents have been hired with support from the Jobs Growth Incentive (JGI) as of February, said Manpower Minister Tan See Leng on Tuesday (Jul 14).
He added that half of the 270,000 JGI-supported hires were not employed at the point of hire, and about one-third had been out of work for more than six months.
About six in 10 were previously employed in a different sector, said the Ministry of Manpower (MOM).
Older workers were also being hired, with workers aged 40 and above making up close to half of JGI-supported hires. One-third were aged 50 and above, said MOM.
Dr Tan added that six in 10 of the workers hired earned the same or a higher wage compared to their previous jobs.
The JGI wage subsidy scheme was introduced in August last year to encourage employers to expand local hiring. The Government subsidises up to 25 per cent of the first S$5,000 of an eligible employee's salary for up to 12 months.
Employers who hire mature local workers (aged 40 and above), people with disabilities and ex-offenders can get 50 per cent of the first S$6,000 of gross monthly income for up to 18 months.
The scheme has been extended to September.
FOUR IN 10 JOINED GROWTH SECTORS
Four in 10 of the 270,000 JGI-supported hires were in growth sectors, such as wholesale trade, professional services and information and communications.
JGI also continued to support the recovery in the food services and retail sectors – employers in these sectors hired one in five of all JGI hires.
The workers who have benefited were hired by 42,000 businesses, most of which (99 per cent) were small- and medium-sized enterprises (SMEs), said MOM.
About half of the businesses hired one to two local workers, while the remaining half hired more than two workers, the ministry said.
MOM said that the resident unemployment rate has fallen from 4.8 per cent in September 2020 to 4.1 per cent in February 2021.
HIRING OF PEOPLE WITH DISABILITIES
MOM said that the JGI also supported the hiring of more than 1,600 persons with disabilities (PwDs) as of February.
"This includes PwDs who may have been out of the labour force, but are now able to find a job with the support of progressive employers," the ministry said.
About six in 10 were not employed at the point of hire, of which more than half had been out of work for more than six months, it added.
Since Mar 1, JGI-eligible employers who hire people with disabilities can receive enhanced salary support of up to 50 per cent of the first $6,000 of their monthly salary over 18 months.
In addition, they receive the Enabling Employment Credit introduced on Jan 1, on top of the JGI. The EEC provides wage offsets for each Singaporean PwD earning below S$4,000 per month.
Source: CNA/hm
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More than 270,000 locals hired under Job Growth Incentive: MOM
Office workers wearing protective face masks using an underpass in Singapore's central business district on Apr 29, 2021. (File photo: Calvin Oh)By Chew Hui Min 14 Jul 2021 11:13AM (Updated: 14 Jul 2021 11:20AM )
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SINGAPORE: More than 270,000 Singaporeans and permanent residents have been hired with support from the Jobs Growth Incentive (JGI) as of February, said Manpower Minister Tan See Leng on Tuesday (Jul 14).
He added that half of the 270,000 JGI-supported hires were not employed at the point of hire, and about one-third had been out of work for more than six months.
About six in 10 were previously employed in a different sector, said the Ministry of Manpower (MOM).
Older workers were also being hired, with workers aged 40 and above making up close to half of JGI-supported hires. One-third were aged 50 and above, said MOM.
Dr Tan added that six in 10 of the workers hired earned the same or a higher wage compared to their previous jobs.
The JGI wage subsidy scheme was introduced in August last year to encourage employers to expand local hiring. The Government subsidises up to 25 per cent of the first S$5,000 of an eligible employee's salary for up to 12 months.
Employers who hire mature local workers (aged 40 and above), people with disabilities and ex-offenders can get 50 per cent of the first S$6,000 of gross monthly income for up to 18 months.
The scheme has been extended to September.
FOUR IN 10 JOINED GROWTH SECTORS
Four in 10 of the 270,000 JGI-supported hires were in growth sectors, such as wholesale trade, professional services and information and communications.
JGI also continued to support the recovery in the food services and retail sectors – employers in these sectors hired one in five of all JGI hires.
The workers who have benefited were hired by 42,000 businesses, most of which (99 per cent) were small- and medium-sized enterprises (SMEs), said MOM.
About half of the businesses hired one to two local workers, while the remaining half hired more than two workers, the ministry said.
MOM said that the resident unemployment rate has fallen from 4.8 per cent in September 2020 to 4.1 per cent in February 2021.
HIRING OF PEOPLE WITH DISABILITIES
MOM said that the JGI also supported the hiring of more than 1,600 persons with disabilities (PwDs) as of February.
"This includes PwDs who may have been out of the labour force, but are now able to find a job with the support of progressive employers," the ministry said.
About six in 10 were not employed at the point of hire, of which more than half had been out of work for more than six months, it added.
Since Mar 1, JGI-eligible employers who hire people with disabilities can receive enhanced salary support of up to 50 per cent of the first $6,000 of their monthly salary over 18 months.
In addition, they receive the Enabling Employment Credit introduced on Jan 1, on top of the JGI. The EEC provides wage offsets for each Singaporean PwD earning below S$4,000 per month.
Source: CNA/hm
Continue reading...