[moonrab]

Your explanation is against the reality.

In changi business park, 90% of the IT banking office workers are foreigners.
This is too extreme.
Every year, the govt IT job programme for IT in banking has
4000 applicants for 400 vacancies.
It means good jobs always have oversupply of applicants.

Employers say they cannot find applicants because they want to employ cheap foreigners.
Whenever the govt organised a job program for the employers, you can see that there are at least 10 applicants for every job.

Thought we are talking about 50s above? Midlife crisis. 

CECA is about IT jobs for the younger generation. Which is acknowledged not a big issue for Singaporean jobless.

Our local IT and AI skill workers are not enough for the industry demands. Many younger Singaporean chose other professions besides IT. 
Many MNC have to bring in their own skill workers for investment viability. 

I agree our Govt and linked entities must put top priority in hiring Singaporean IT and AI skill workers. 
Provide training and hands on experience opportunities. Grow a solid pool of such local talents for sustainability in crisis time. 
PR in this critical field should not be included under local talent building programme. 

As for private entities, raising the salary for SP skill worker can help in tackling low wages competition.