Posted on 09/23/2013 11:15:28 PM PDT by TexGrill
(Reuters) - Singapore will require many companies operating in the city-state to consider Singaporeans for skilled job vacancies before turning to candidates from abroad, bowing to public pressure over a surge in foreigners over the past decade.
"The measures might mean more hassle and paperwork for companies, and it might even lower the long-term economic growth rate," said Michael Wan, an economist with Credit Suisse in Singapore.
"But I don't think this will necessarily lower Singapore's attractiveness to companies because there are other factors that they take into account -- such as tax incentives, political stability and access to the ASEAN region."
Starting next August, firms with more than 25 employees must advertise a vacancy for professional or managerial jobs paying less than S$12,000 ($9,600) a month on a new jobs bank administered by the Singapore Workforce Development Agency for at least 14 days, the Ministry of Manpower said in a statement.
Only after that period can the company apply for an employment pass to bring in a foreign national.
Singapore will also raise the qualifying salaries for employment pass holders to at least S$3,300 a month, up from the current S$3,000, starting in January 2014, reducing the competition for entry-level jobs that typically require tertiary education.
(Excerpt) Read more at reuters.com ...
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