Covid19 hit hard, but there are still job opportunities
Not only Singapore, but the whole world have been hit hard with the Covid-19 pandemic. Many sectors which have thrived for decades – like tourism and travel – have found themselves looking into the barrel of a very frightful gun.
In a recent World Economic survey, over 80 per cent of businesses report that they are accelerating the automation of their work processes.
In contrast, there will be an increasing demand for data scientists, digital and strategy specialist and process automation specialists. And this means a swathe of new opportunities. For example, we have seen a boom in the medical device business, biotech, and technology businesses that provide solutions to food production and education, among others.
In his speech, Deputy Prime Minister Heng Swee Keat announced more initiatives for companies to embrace digitalisation and new frontier technologies.
These high-quality and high-demand jobs will surely be in industries that are innovative and intensive in R&D.
But there are no lack of opportunities to learn a completely new trade – many who worked in one industry their entire lives managed to switch to another job after training and certification. The key is for workers to take that leap.
A successful country will be one that can prepare a dynamic and vibrant labour force with the right set of skills to reallocate workers into these sectors.
Greater demand for skilled workers will boost incomes and will provide a pipeline of relevant, good jobs in the future.
With Budget 2021, the Government has pulled the right levers to help Singaporeans stay in jobs or move on to acquire new skills so should another shock to the system happen, they can withstand the pressures a bit better.