I think we are not lacking jobs. Singaporeans simply have more job options these days and even if a job pays $5000 but if it's not suited to their interests or not their passion, they will turn it down. I am not sure if it's an excuse though, to reject jobs that they despise/have no regard for.
http://www.youtube.com/watch?v=fQnzRy53pBc
http://www.youtube.com/watch?v=fQnzRy53pBc