In stark contrast to job cuts and losses in retail and hospitality sectors, Singapore’s financial sector continues to create jobs throughout the Covid-19 crisis, with 1,900 net openings in the first half of 2020. 

However, the industry must not be complacent. After all, big changes are happening brought about by new technologies and regulations — and there is no way of saying if the next crisis will hit this sector more directly as it did before. 

“Just because the sector has done well on the jobs front so far does not mean that it will continue to do so in the future,” says Ravi Menon, managing director of the Monetary Authority of Singapore (MAS). “The economic recovery is uneven and remains highly uncertain.” 

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook