IMO its a bit of a stretch to say it is due to labor shortage but you do you.
"Some international banks and professional services firms have expressed frustration over the pressure to hire local staff at the junior level, where
it can be hard to find appropriate skills, people familiar with the matter said. That’s been exacerbated by a labour shortage, which has dropped Singapore’s jobless rate to just 2.4%, less than half Hong Kong’s level."
Means they cannot find qualified people what.
Also, exacerbated by labor shortage does not mean the root cause is a labor shortage.
https://dictionary.cambridge.org/dictionary/english/exacerbate
Exacerbate means to make something that is already bad even worse. It is not the root cause.
To say that the labor shortage is the cause is also as wrong as the TS. The one giving that reason and infraction is no better than the TS when it comes to misinformation.
Article is saying root cause is X, exacerbated by Y. But the mod infracting says root cause is Y, which is wrong.