Singapore’s economic resilience amid US tariff challenges is underpinned by strategic investments in
jobs, infrastructure, and affordable housing. Following the National Day Rally, economists highlighted
government initiatives, such as traineeship schemes, SkillsFuture upgrades, AI adoption, and
improved job matching to support workforce adaptability, productivity, and long-term growth
Singapore’s economy is holding steady despite uncertainties from US tariffs, but the focus ahead will be
on workers and businesses adapting to disruption, economists said after Prime Minister Lawrence Wong’s
National Day Rally.
PM Wong unveiled measures to strengthen job security, expand training opportunities, and help
businesses adopt technology, especially artificial intelligence (AI). Economists noted these initiatives
target both immediate labour market resilience and longer-term workforce transformation.
Key measures include a government-funded traineeship scheme for fresh graduates, expanded jobmatching support through community development councils, and enhancements to the SkillsFuture LevelUp Programme to help mid-career professionals upskill with part-time and new course offerings.
Economists highlighted AI adoption as a critical opportunity, with only 4.2% of SMEs using it as of 2023.
Wider use could boost productivity, streamline processes, and help Singapore manage demographic shifts
while creating higher-value jobs.
While global trade tensions could weigh on investment and hiring, Singapore’s continued push on
reskilling, lifelong learning, and infrastructure development – including projects linked to the JohorSingapore Special Economic Zone – is expected to cushion risks and sustain growth.