Singapore’s $4,500 unemployment support to benefit 60,000 people

The SkillsFuture Jobseeker Support scheme will focus on people who earn an average of SGD5,000 a month or less before losing their job, the Ministry of Manpower said in a recent release.

Applicants must be employed for at least six months in the past 12 months prior to the application for support.

They cannot live in a property with an annual value of more than SGD25,000.

The scheme provides up to SGD6,000 over six months, including an immediate SGD1,500 payout in the first month.

Once an individual successfully secures a new job, he or she will not be eligible for subsequent monthly payouts.

Those who have received payouts will not be able to make another application within three years of their last scheme payout.

Prime Minister Lawrence Wong said recently at a conference that the new scheme seeks to help people find new jobs quickly without making them dependent on the state’s coffers.

“These are essential investments that you need to make in yourself to find better jobs,” he said.

“This is the essence of our renewed social compact. We will have your back, we will stand by you, but you too must take responsibility for your actions, and make an effort to pull yourself up.”

Analysts have said that the scheme will give workers who lose their jobs additional time to find or train for better opportunities, but more fine-tuning is needed to ensure efficiency.