More people are losing their jobs in Singapore. It looks like many companies are not doing well especially those in the oil and gas industries. The growth of 5 to 6% a year is something of the past. According to the prime minister this years growth will be about 2% to 3 % which is not "bad".
If you look around, a lot of eateries,restaurants, shopping malls are not as crowded as they used to be.
Those who are out of jobs do not have the means to spend while others are cautious not to spend too much.
The last recessions were back in 2009 and 2003 and Singapore was not spared. I lost my job during the 2003 SARS period and am not employed ever since.
This 54 year old lady lost her job recently and you may read about her story here.
If you look around, a lot of eateries,restaurants, shopping malls are not as crowded as they used to be.
Those who are out of jobs do not have the means to spend while others are cautious not to spend too much.
The last recessions were back in 2009 and 2003 and Singapore was not spared. I lost my job during the 2003 SARS period and am not employed ever since.
This 54 year old lady lost her job recently and you may read about her story here.
3 comments:
Quite a number of MNCs have moved operations to KL because it's much cheaper to do business there than SG. Even if they do business in SG, majority of the workers will probably be FTs so they might as well move to KL. The FTs also complain of high living costs in SG.
Key things that matter to FTs like healthcare, housing and education are far more expensive in SG than neighbouring Malaysia.
Expect the trend to continue.....
http://www.thestar.com.my/business/business-news/2016/04/19/mcdermott-shift-from-singapore-to-malaysia-done-by-june/
Malaysia? Oh no! got to pay under the table and all that nonsense.
Tell that to the MNCs. You think they care? They save more in the long term. SG is too crowded. Wait for 6.9 mil then die of claustrophobia. By then there won't be enough cardboards to collect too.
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