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Thread: One in 5 Singaporeans expect rise in unemployment

  1. #1

    Default One in 5 Singaporeans expect rise in unemployment

    One in 5 Singaporeans expect rise in unemployment

    However, less than a third think they will be personally affected.

    Tue, Jan 13, 2009
    AsiaOne

    A recent survey conducted by TNS and Gallup International showed that 78 per cent of Singaporeans expect the number of unemployed to rise this year.

    However, only 30 per cent of those with employment think that there is a chance that they could be the ones to lose their job.

    A great majority, 77 per cent, also feel that Singapore's economic prosperity will decline.

    A higher percentage of Singaporeans seem to be more pessimistic, with 63 per cent saying they expect the coming year to be worse for them. This is in sharp comparison to a global average of just 35 per cent. In relation to this, only one in five persons in Singapore (20 per cent) think it will be better while 17 per cent believe it will be about the same. The global averages for these are 27 and 31 per cent respectively.

    However, in terms of job security, Singaporeans are more in line with the global response. 66% of working respondents worldwide think unemployment is set to rise, yet only 27% are concerned they will lose their own
    jobs.

    Finding a new job

    When asked to assess the difficulty in finding a job if they lost their current one, 79 per cent fear that it will take too long and only 17 per cent feel that they will get a new job quickly.

    Again, Singaporeans are more pessimistic than their global counterparts, with responses of 54 and 31 per cent respectively.

    In Asia, only Japan is more pessimistic than Singapore. Only 13 per cent of Japanese respondents feel that they can find a new job quickly.

    China is the most optimistic, with 47 per cent responding that they think they would be able to find a new job quickly after losing their old one.

    Commenting on the results in Singapore, Mr. Wade Garland, the Managing Director of TNS in Singapore and Hong Kong, says the increased unemployment forecast reflects the bearish views being expressed by many of the most respected business organizations in Singapore and recently by the Prime Minister.

    'Prime Minister Lee Hsien Loong warned in his New Year message that the global financial crisis had hit Singapore hard, and that the economic outlook was uncertain. The government now expects Singapore's GDP to come in between a decline of 2% and growth of 1% in 2009, which is lower than the previous forecast of a 1% decline to 2% growth made earlier in November. Currently the unemployment rate in Singapore is around 2% and GDP has declined by 12.5% in the fourth quarter of 2008 and revised downwards its growth estimates for 2009,' he comments.

    'Media reports of these types of forecasts, the financial difficulties of several major local retailers, falling property prices, and the layoffs already taking place in some companies have made people realise that the global economic turmoil is having an impact on Singapore. Surprisingly this is not yet undermining their confidence about their own personal future in the coming year,' he adds.

    Source :-
    http://business.asiaone.com/print/Bu...13-114395.html

  2. #2

    Default Re: One in 5 Singaporeans expect rise in unemployment

    Who'll give me a job?

    It's a swift goodbye when the axe falls on managers and senior employees - and a painful experience too. -ST

    Thu, Jan 15, 2009
    The Straits Times

    By Yen Feng

    MR NARAYANAN has put his suit away. He doesn't carry his briefcase anymore either. Instead, under his arm are classified sections of The Straits Times, folded and worn with red ink. In his hand, a Coke bottle re-filled with water.


    'It's a hot day,' he said, seated at the canteen of the Employment and Employability Institute (e2i) in Redhill Road. Next to him is his wife, a homemaker.

    They have been waiting since 10am, although their appointment letter said to come at 2pm.

    source : - http://business.asiaone.com/Business...15-114696.html

    Actually the whole article is slightly more than this.

  3. #3
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    Default Re: One in 5 Singaporeans expect rise in unemployment

    does gahmen have a neck brace to deflect falling axes?

    as an advanced economy ain't S'pore in a very good position to repel any axe that may fall. we're not trees leh.
    have u seen the "light" yet?

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    Default Re: One in 5 Singaporeans expect rise in unemployment

    time to work in government sector already...

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    Default Re: One in 5 Singaporeans expect rise in unemployment

    Quote Originally Posted by Simon_84 View Post
    time to work in government sector already...
    but would a huge demand in turn drive wages down or stagnant? also how would it affect staff morale currently already in that sector? that may add unnecessory stress to the bigger picture since gahmen sector employs a sizeable number of staff.
    have u seen the "light" yet?

  6. #6

    Default Re: One in 5 Singaporeans expect rise in unemployment

    Personally I find it hard to hire people who are too over qualified for certain positions.
    If a graduate came to my office and want the job which an O level would be able to do, I rather give the job to the person who is with an O cert, cause I always have that feeling that the one with a degree would have better opp out there, than what I can give.

  7. #7

    Default Re: One in 5 Singaporeans expect rise in unemployment

    According to the article, shouldn't that be FOUR in five and not one in five?

    Or one in five DON'T expect rise in unemployment.

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    Default Re: One in 5 Singaporeans expect rise in unemployment

    Quote Originally Posted by Nisa View Post
    Personally I find it hard to hire people who are too over qualified for certain positions.
    If a graduate came to my office and want the job which an O level would be able to do, I rather give the job to the person who is with an O cert, cause I always have that feeling that the one with a degree would have better opp out there, than what I can give.
    this is the main problem that ppl are facing now!

    the grad has problem finding jobs outside in this current situation now, and being the sensible person, he decided to look for a lower job in hope that he will be able to clinch it and at least put food on the table.

    [even our gahmen encourage us to lower expectations and even consider lower paid jobs..]

    but yet, although he has already lowered his expectations and go for jobs that dont need his qualifications, he is still being rejected...

    sounds like big irony isnt it? the proper way to be done is, if the person can do the job and can take ur level of pay, then take him... its a competitve world out here.
    09 Oct 09 officially marks the date I become a canon convert.

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    Arrow Re: One in 5 Singaporeans expect rise in unemployment

    More workers on shorter work weeks and temporary layoffs
    By Hetty Musfirah Abdul Khamid, Channel NewsAsia | Posted: 15 January 2009 2102 hrs

    SINGAPORE: The number of workers going on shorter work weeks or temporary layoffs continues to rise.

    Speaking at the Industry Forum for Attractions, Tour and Travel Services on Thursday, the assistant secretary general of the National Trades Union Congress (NTUC), Josephine Teo, said some 18,000 workers are now on shorter work weeks or temporary layoffs, as compared to 15,000 last week.

    Though most of the affected workers are from the manufacturing sector, Mrs Teo noted that workers in the services sector are also vulnerable to the economic crisis.

    Many companies are said to have frozen headcount and not replacing staff who have resigned. As such, the unions are already in active talks with the companies to explore cost-cutting measures to save jobs.

    Mrs Teo said the labour movement is also keen to help tourism industry players tap on the Skills Programme for Upgrading and Resilience (SPUR).

    This is mainly to assist them in issues like managing excess manpower while boosting competitiveness and productivity.

    Mrs Teo said now that SPUR has been expanded to cover some 800 courses, she is positive that the services sector will be able to take advantage of the training initiative.

    Looking forward, Mrs Teo said a better skilled and more capable tourism workforce will only speed up the recovery process within the industry when the upturn comes.

    - CNA/yt

    http://www.channelnewsasia.com/stori...402678/1/.html

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    Default Re: One in 5 Singaporeans expect rise in unemployment

    expectation is 1 thing, really is another. dun bother, if it happens it happens. might as well find ways to deal with it ahead- before it happens.
    have u seen the "light" yet?

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