Singapore Considers New Unemployment Aid to Encourage Skills Upgrading and Support Displaced Workers
-
New unemployment support policies in Singapore will likely encourage skills upgrading while providing temporary financial aid. This prevents abuse of the system.
-
Support could be targeted and come with conditions like training attendance, career guidance, and active job searching. This ensures aid goes to those who need it.
-
Current assistance schemes focus on low-income groups. New support would help displaced middle-class workers who fall through the cracks.
-
Unexpected events like COVID-19 showed the need for extra financial cushions when unemployment spikes.
-
A safety net could encourage active career management, skills upgrading, and risk-taking in changing job markets.