Can't Find Workers: You Are Not Alone

Job vacancies in the service sector are at record highs, leaving many companies unable to fill key positions.

 MAS’ Macroeconomic Review highlighted that the “labour market has tightened significantly, especially in the services sectors, where job vacancy rates are at near-record highs” and “although external sources of price inflation have been benign, domestic inflationary pressures have increased in the first three quarters of this year, particularly the prices of non-traded items, such as accommodation and services”.

Forecast 2010 GDP growth is expected to moderated from 13%-15% to “a slower pace in line with its growth potential” and “will be driven more by the services sector”.