For over a hundred years, the 1st of May has been a day to recognise the contribution of workers and the labour movement. In Singapore, we call it Labour Day. For decades, the Prime Minister, or someone else from the Cabinet, gives a speech to the Labour Movement at the May Day Rally.
This may, PM Lawrence Wong gave his first May Day Rally speech – speaking in front of 1,600 union leaders and tripartite partners at the all-new D’Marquee at Downtown East which reopened just a few months ago.
This year’s speech was significant in several ways, as it also marked Singapore’s 60th birthday and the last day of campaigning for Singapore’s General Elections 2025.
Read Also: Why We Celebrate Labour Day On 1 May
#1 A Celebration Of May Day In SG60
PM Wong began by setting the context for a “double celebration”, both May Day and SG60, and reflected on how far Singapore had come in the past 60 years of independence. Referring to more recent events, he acknowledged the hard work of the labour movement in overcoming the COVID-19 pandemic and the worst full-year recession since independence.
Singapore was able to “bounce back strongly” and achieve a GDP growth of more than 4% in 2024. PM Wong attributed this to how the labour movement worked with companies to “minimise retrenchments, and to negotiate fair retrenchment benefits”. For workers were displaced, NTUC helped to find them new roles and provided assistance to those who needed it.
“SG60 May Day is a tribute to everyone in the Labour Movement,” said PM Wong, especially those who “held the fort in times of storms”.
Read Also: Understanding The History Of Unions In Singapore (And Why They Matter For Politics)
#2 A “New Storm” Ahead, With A US-China Trade War
Just after emerging from one crisis, Singapore finds itself in a “new storm”. PM Wong reiterated his message to Parliament last month – that “the world has changed – and it is not changing back anytime soon.
The US is “targeting other regional countries that they think are bypassing their rules” and Singapore will likely “be put under greater scrutiny as well” warned PM Wong.
Having spoken to companies, PM Wong concluded that “the impact is real and growing.” With the global economy being affected as investments are “held back”, and operations “scaled down”, PM Wong believes it will eventually hit Singapore. Even though the Ministry of Trade and Industry (MTI) projects a slower GDP right now, PM Wong warned that we “cannot rule out a full-blown recession”.
Earlier in this year’s Budget, PM Wong announced several measures and said they were “still being rolled out progressively over the next few months”. He gave assurances that the situation would be monitored and should things get worse, “we are ready to do more.”
Read Also: 5 Takeaways From PM Lawrence Wong’s Ministerial Statement About The Trump Tariffs
#3 “Rays Of Light” Amidst Immense Challenges
On a more optimistic note, PM Wong said that “it is not all doom and gloom”, and that his goal was to make sure “every worker in Singapore is prepared” to take on “new opportunities”.
Elaborating, he shared that many countries in Asia and parts of the Middle East are some of the “fastest-growing economies today”, and that as “a large market with a rising middle class”, it will “continue to attract global investments” that Singaporeans can take advantage of.
Next, PM Wong mentioned the “emerging regions like Latin America and Africa”. Admitting that ties with these regions are “limited today because of distance”, he nonetheless said “we can do more to link up with them for mutual benefit.
PM Wong revealed that in meetings with “many CEOs of multinational firms”, they saw potential in Asia and are “keen to do more here in Singapore”, due to its status as a “reliable and pro-business hub”.
#4 “Do More To Help The SMEs Scale Up”
On that note, PM Wong namedropped Grab and Razer as Singapore firms that have “established themselves as regional or industry leaders”, and that more would be done by the government to “help the SMEs scale up”.
At this point, PM Wong also gave credit to NTUC for “doing its part” to help companies grow, citing the Company Training Committees (CTCs) which “bring businesses, workers and unions together”. This results in a scenario where “everyone wins”. Businesses transform and stay competitive, workers skill up, “stay ahead of the curve” and “get better wages too”.
PM Wong pointed out that $100 million was provided in “funding support” for the CTC in the 2022 Budget, and an additional $200 million of funding was provided in this year’s Budget “to help NTUC scale up its CTC efforts”.
#5 “Make Life Better For Every Worker”
At this point, PM Wong once again reiterated that the Government and NTUC would work “together to make life better for every worker”. In particular, he named three main groups – new graduates entering the workforce, mid-career workers and seniors.
For new graduates, the Government would do more to “step up career counselling, career sessions, job matching programmes”, as well as “secure apprenticeships and traineeships”. For mid-career workers, he reinforced the heavy investment into SkillsFuture, to give them a “substantial injection of skills”.
As for seniors in the workforce, the government would provide wage support for employers to employ older workers, as well as job matching services. PM Wong also mentioned the formation of a new tripartite workgroup chaired by Senior Minister of State for Manpower Koh Poh Koon. This workgroup will make recommendations on how to empower more seniors to stay in the workforce.
PM Wong concluded his maiden May Day Rally speech as Prime Minister by reiterating the importance of tripartism – the government, the labour movement and employers all working “as partners”.
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