Covid-19 Budget measures helped cushion recession's impact, save jobs: Finance Ministry

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SINGAPORE - The eight Budgets rolled out between 2020 and last year to cushion the impact of Covid-19 have significantly boosted Singapore's growth and reduced resident unemployment over the past two

SINGAPORE - The eight Budgets rolled out between 2020 and last year to cushion the impact of Covid-19 have significantly boosted Singapore's growth and reduced resident unemployment over the past two years.

Instead, Singapore saw unemployment rates of 4.1 per cent in 2020 and 3.5 per cent last year. Key contributors to last year's unemployment rates included support measures such as the Jobs Support Scheme and Jobs Growth Incentive, as well as other fiscal and monetary measures, MOF said. The $28 billion JSS payouts between April 2020 and December last year saved 165,000 local jobs in the first 10 months of the pandemic, it said.

By the end of October last year, it had filled more than 166,300 jobs and skills opportunities. Of these, 122,300 were job placements.Covid-19 vaccines helped prevent 8,000 deaths in S'pore during Delta wave: MOF report

 

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