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Salary Guide Singapore 2023

The Morgan Philips Salary Guide is published annually to provide hiring managers and candidates with salary references across various industries by job functions. Our data is based on extensive research and analysis, including thousands of candidate interviews and client assignments conducted over the past 12 months. For each role, we provide insights on key metrics such as geography, seniority, education, tenure, job changes, and trends.

What are the major workforce and salary trends in Singapore?

Singapore's economy is expected to continue growing in 2023, which will create more job opportunities. However, the COVID-19 pandemic has caused significant disruptions to the labor market, and it may take some time for the economy to fully recover. The Singapore government has announced plans to focus on upskilling and reskilling the workforce to meet the demands of the digital economy. This will involve investing in training programs and encouraging lifelong learning. The government has also introduced measures to support businesses and workers affected by the pandemic, such as the Jobs Support Scheme and the COVID-19 Support Grant.

The demand for skilled workers in sectors such as information technology, healthcare, and financial services is expected to continue growing in 2023. However, there may be job losses in sectors that are heavily affected by the pandemic, such as tourism and hospitality. In conclusion, the Singapore workforce outlook for 2023 is expected to be positive, with job opportunities available in growing sectors. However, there may still be challenges for workers and businesses as the economy recovers from the pandemic. It's important for workers to stay adaptable and continue developing their skills to remain competitive in the job market.

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