SINGAPORE: According to economists and sociologists, the amount of financial aid for the unemployed is intended to assist job searchers while preventing the onset of welfare dependency.
Under the new SkillsFuture Jobseeker Support Scheme, lower—and middle-class workers who have lost their jobs could receive up to S$6,000 (US$4,600) over a maximum of six months.
During his National Day Rally speech, Prime Minister Lawrence Wong made this announcement on Sunday, August 18, marking a significant change in Singapore’s policy towards aiding the unemployed.
In addition, qualified job seekers have a responsibility to participate in training, career coaching, and job matching programs.
According to experts, providing financial assistance for an extended period or over what is necessary could have unfavourable effects, as reported by CNA.
According to Mr Christopher Gee, deputy director of the Institute of Policy Studies (IPS), a worker’s motivation to continue looking for work may decrease if the amount is too high.
Additionally, the program will be more expensive if it receives more funding,” stated Mr. Gee, a senior research fellow in charge of the Department of Governance and Economy.
Sociologist Tan Ern Ser observed that laid-off workers would probably have to dip into their savings or rely on family members for support, given the maximum monthly financial assistance of S$1,000.
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