Singapore's workforce shrinks in 2017 for the first time since 2003, but more locals have jobs

2017 news was inundated with articles on the increase of locals demanding more job opportunities in their home country of Singapore. Singapore’s government has been stricter in releasing work permits for foreigners which could help locals get the jobs they’re looking for. According to this article, it would be safe to say that Singapore has succeeded in opening more employment for locals.

This is due to several factors including the restructuring of corporations. A few questions come to mind when analyzing this trend: What will be the impact on relocation with the increasing demand of local employment versus the current foreigners in Singapore? What will the impact be on these expats that are currently on a local package? What will the impact be on the foreign workforce going into Singapore given their stricter policies on handing out work permits?

Currently, the industry most impacted is the service industry and we may see a wider impact on other industries as we get further into 2018. Taking these factors into account, we may see current expats in Singapore willing to consider moving to other APAC destinations and corporations in Singapore shifting to the idea of hiring more locals.