Labour crunch feared to hit "unprecedented" level: DBS

It's unlikely to ease in the near-term.

Singapore's job vacancy to unemployed person ratio is expected to hit a historical high level of 1.43 as of end 2014, showing that employers will get no respite from the intensifying labour crunch.

"The difference between job vacancy and job creation, a reflection of the labour market mismatch has also reached unprecedented level. That basically shows that employers are finding it hard to fill up job openings," noted DBS.

The report further noted that the phenomenon is unlikely to ease in the near term, as the economy is practically at full employment state.

"The tight labout market will remain the number one challenge for service providers in the quarters to come. Plainly, apart from the weak external demand, such supply side constraint within the economy would have curtailed overall growth performance," stated DBS.