PUBLISHED ONAugust 03, 2026 8:15 AMUPDATEDAugust 03, 2026 2:56 PMBYSean LerThe constraints faced by Singapore in terms of its falling birth rates mean it needs to have a highly skilled workforce, said Minister for Transport Jeffrey Siow.
"We need to redouble our resources on reskilling to ensure that Singaporeans are able to adapt more quickly to a changing economy," he said at the 18th Asean and Asia Forum organised by the Singapore Institute of International Affairs on Monday (Aug 3).
The forum is also Siow's first public engagement since being promoted to a full minister on July 27.
This, he said, has to take into account changing mindsets among the young, who are more likely to take on different jobs throughout their working life and switching companies.
The observation is consistent with data published by LinkedIn in January, showing that Gen Z is set to be come Singapore's most active job-hunting cohort, with 66 per cent planning to look for new roles.
Similarly, Deloitte's Global 2026 Gen Z and Millennial Survey show that Gen Zs are placing greater emphasis on stability, skills development, and wellbeing, with 94 per cent also saying that having a sense of purpose is important for their job satisfaction.
And although most Gen Zs (88 per cent) in Singapore report using artificial intelligence (AI) in their day‑to‑day work, only 28 per cent of them rate the AI tools provided by their employers as mostly or completely sufficient, according to the Deloitte study.
Siow, who co-chairs the Economic Strategy Review's committee on global competitiveness, add that "in order to help Singaporeans adapt to that sort of environment, it's about giving them the tools to be able to bounce back quickly".
He noted that the "centre of gravity" will have to shift away from schools and institutes of higher learning to the workplace, as workers undergo retraining more often.
It could also apply to the periods when workers are in between jobs, undertaking more training and reskilling to build up capabilities so that they can adapt to take on new jobs and take on new roles, Siow said.
@asiaone Responded to a question raised at the 18th ASEAN & Asia Forum, which was hosted on Monday (Aug 3) by the Singapore Institute of International Affairs, Transport Minister and Second Minister for Finance Jeffrey Siow touched on diversifying and looking for new energy sources, as well as the need for continuous upskilling. #sgnews #Singapore #Economy #Employment ♬ original sound - AsiaOne
He added that if Singapore gets this right, it can still turn the challenges of falling birth rates and an ageing population into an asset.
"I think we have a good chance because with a smaller Singaporean base, we can invest more per person, train them more, train them intensively, build the structure to enable them to get access to reskilling resources more quickly, helping and incentivising companies to retrain Singaporeans and prioritise these efforts," he said.
"That is something not many cities or countries can do. We already have a head start with SkillsFuture. I think if we can do more in that aspect, we can help overcome that constraint," he added.
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