Labour shortage continues to strain SG's transport and logistics sector
Job vacancy rate in the sectors has become 2.4x higher than pre-COVID.
Employment levels in Singapore's transport and logistics sector have yet to come close to "recovering" from the pandemic, according to a QBE Asia report.
In Singapore, job vacancy rates in the transport and logistics sector have become 2.4x higher than pre-COVID levels.
Of Singapore's total employment, the transport and logistics sector only accounts for 6.8% or 267,000 people.
"Labour shortages will continue to be a key issue impacting the transport and logistics sectors," said QBE Asia.
In the transport sector, QBE Asia said the shortage of workers such as bus drivers will continue to drive up operating costs.
Such a problem will also be "exacerbated by increasing demand for bus workers amidst the reopening of borders and recovery of the tourism sector."
For the logistics sector, QBE Asia said there is a shortage of skilled labour such as those with skills in supply chain management amidst rising demand for logistics services.