For sure un-employment in 2009 will rise. No doubts on this. Imagine what will happen to the foreign workers (Step children in Singapore offices).In fact you can see for your self how frustrations have already come to the boiling point…in context with the recent event where a man tried to burn a Singapore minister alive.
Source(s):
Meticulous day to day observation.
Answered By: jamal - 1/13/2009 |
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I don't agree with that as I feel job security is not there especially if your working in investment banking industry as I am. The method the retrenchment is done in many banks are very sudden with no prior warning.( I saw that in my place of work) In terms of getting a job if you get retrenched I agree to a certain extent as I feel its case by case basis as it depends on your experience and ability to carry yourself. In 2009, you will see the real impact of the credit crunch hit the public. It will get allot more worse before it gets better.
Answered By: jbalas_10 - 1/13/2009 |
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I guess the results of the survey are being overly optimistic about the future in 2009. Every company has been cutting cost and axing of staff. Needless to say, those are mostly from the Banking and Finance industry which is usually the case. When economy is booming, people from that sector earns big bucks of money. However, if there is a downturn, they will be the first one who will be retrenched. I can't believe that Parkway Health care will join in the action of retrenching their staff that all along, I thought this is the most stable sector. Nobody can tell what belies in the future. I can only say, at least for the next 9 months, the road will not be smooth going for everyone. Being optimistic is good, however, not overly done. If most of the companies are cutting on their budget, what makes one think that jobs can be easily found?
Answered By: funky88 - 1/13/2009 |
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Never having gone through a really tough recessionary period in recent times, younger Singaporeans are generally naive about how tough things can become. While we should not be too negative, and will always hope for the best, we should nevertheless be prepared. This should include managing costs and expenses, keeping enough cash buffer and eliminate or reduce debt as much as possible. 2009 by all indications is going to be the most challenging time for Singaporeans in living memory.
Answered By: tengliat k - 1/13/2009 |
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Bad news continues to up to light, in a piece-meal fashion. This is exactly like it was when bad news appeared. They come out in the open in drips and drabs.
I am inclined to believe that there are more cobwebs in the closet. The knock-on effect is more countries and entities suffering & finally have to come out in the open.
So the economy spirals downward & job opportunities curtails.
More bad news may be coming. It appears to be so bad that we may even be heading towards the 1929s/30s.
Get better? Just dont get worse than it already is!
Answered By: dragonflybloo - 1/13/2009 |
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Those who have jobs will say they are secure at the moment. Look at my friend who has been jobless since last year Oct 2008 and still owe me $700 so what do u think of the survey results in this case? If my friend is able to find a job in 2009, that means things are getting better....if my friend still can't find a job and unable to return me the money, then the economy is worse.
Answered By: common people - 1/13/2009 |
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Personally, I do not think that there is a thing like iron rice bowl already. And which Y or X generation would contentedly stay on, on a single job. Very often the motivation comes in terms of money, recognition and/or moving up the corporate ladder.
It’s just that with the downfall of the US dollars, it makes the recession spread like wildfire.
But why let the recession dampen the arrival of the OX year? Let it be the time for OT to decrease, so as one can slow down and appreciate the company of their loved one.
Years ago, 1 figure mention, foreigners/talent are not here to take away our job. But last year, the same person mention, there is no way SG will ensure Singaporean will keep their job, as some Singaporean boss also need to lower their expenses by hiring foreigners. Kinda of contradicting.
Perhaps, paying more for a 1st class gov also doesn’t help much during the times of recession. Their solution can be asking company to have either lesser working hour/day and lesser pay, but which place have less worried? Maybe government related company.
New Idol Obama – who help his own country by dining out at a hotdog stall. (Same for Ma President)
Answered By: SAE0203 - 1/13/2009 |
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What a load of rubbish! The survey results must have been rigged! Hello.... look at what's happening around the globe. How many people were being interviewed, their age group etc. 2009 will definitely be worse.... well, keep up with the false pretenses if it makes people happier. After all, there's no news but bad news nowadays, so no harm having a bit of 'good' news!
Answered By: ds - 1/13/2009 |
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Yes, I agree jobs are secure. you can find jobs quickly if you are not fussy. In 2009, there are still work to be done, there are choices and with the government promoting training and retraining. Jobs will be there for the right people. Be creative, be diligent, there is always work for you.
Answered By: Bee - 1/13/2009 |
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The situation will be worse in the year 2009. It'll be hard to find quality jobs if you're dumped by your existing company.
Answered By: Dileep - 1/13/2009 |
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In banking, definitely it will be worse.
Answered By: geremy c - 1/13/2009 |
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To me, 2009 will definite a tough year but not for all. Certain industry is still able to sustain or better.
The most impact is to those blue collar group, worker from manufacturing or work with SME. Personally believe they the group gov shd help most as their pay and education level is lower. Once they lost their job, will take longer to find new job and sure their pay will be cut with the new job. Most of the white collar group, higher pay should have more saving.
Don't just think of sustain the current lifestyle, an a white collar group may need 5k but blue collar only need 2k to sustain lifestyle. The main thing is to help them go thru this recession period.
Answered By: loang l - 1/13/2009 |
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I think will be Worse .i got Retrenched from Singapore Listed on last november Company but still i haven't Get any job .
Every where and lot company retrenched .
Answered By: kanthan - 1/13/2009 |
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Reality check , we are now facing ..the beginning of a global financial crisis and probably be a major ongoing financial crisis. Which will lead to employers refining recovery measures to stay afloat in the global market. There is always a gentle reminder from above to prepare & compose ourselves for the hard times ahead.
Answered By: mza - 1/13/2009 |
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The result will very much depend on who are the people that they have surveyed.
The market is not getting any better week by week and has shifted to the employer market. I don't think the global market is at the bottom yet and expect to see more retrenchment after CNY.
Company are reducing their expenses. Non-performer and contractor will be the affected group.
Job seeker should be realistic in their expectation. Even in good time, year end and CNY period have always been the quiet period for company to hire staff. In addition, the recession now will further reduce in hiring. Do expect 6-8 months to find a new job.
Answered By: Mel - 1/13/2009 |
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Whether jobs are secured is one issue but i notice a trend in Singapore lately. Hiring of chinese nationals is becoming a trend in Singapore. Is it because of cheap labour? I am not sure but if this continues then i believe more Singaporeans will be out of job as i see most of the chinese nationals working at restaurants, malls and everywhere. Basically they are everywhere. They can't speak english, i don't understand how they are allowed to do a customer oriented job when they can't communicate in English. I believe Singapore is an english speaking country and we have malays and indians in Singapore too. Even bus drivers too. Isn't it important for a bus driver to understand english in order to guide passengers. We have so many tourists in Singapore and before they board the bus when they ask a chinese national bus driver where is this place, he can't even answer. How do you justify this? If they continue to hire so many chinese nationals then i believe more singaporeans will be out of job soon and singapore will turn into a chinese speaking country. This is not racial discrimination but i am concerned about the future of my nation.
Answered By: Jessica P - 1/13/2009 |
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Now really so badly, Nov till now I dun get a job. I cannot take it staying at home doing nothing. Could anyone help?? Hope everything going smoothly soon
Answered By: cherry - 1/13/2009 |
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These are all cover up done by media & gov. Never believe this kind of of bullshit! I've been jobless since last year Sept until now, still not found any job since. Is not that I am picky on job since mine industry is at stake! Which I have no choice but to switch industry. Furthermore, thru' job agent, they even advised me to accept pay cut almost half of my previous pay job in order to secure a job now...how can I accept this!! 50?f my pay cut!!! Don't I need to feed my family & to pay other debts?? I must agree previous posting mentioned that nobody will employ ppl which do not have any relevant experience, how irony whereby gov still encourage the public to switch line... 09 is definitely going to be worse! The aftermath from 08 is still there! face it!
Answered By: marius_rm - 1/13/2009 |
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No. Race to the Bottom. Dunno
Answered By: nova1491 - 1/13/2009 |
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Economic indicators are showing that it will get worse. Business are nonetheless for profit organization, I guess it is inevitable when business cycle fluctuates up and down too quickly. When the economy contracts, it creates a situation where the elderly has to compete with the fresh grads for jobs. The conflict here is that the elderly has to continue working beyond 65 and hold on to their expertise and experience while fresh grads had less chances of gaining those experience. Structural unemployment is another issue that's not easy to fix. Being able to find a new job quickly after retrenchment would only be possible if the same job functions return. If there's a structural change, moving to a new job requiring new skills would not be a smooth transition. Even with all the training programs and self education, the reality is that HR managers would still be looking for "relevant" experience.
Answered By: ELVIN N - 1/12/2009 |
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This is expected to be one of the worst recession in history and is expected to be long lasting. All the "positive" news by the Singapore media are unrealistic, which I feel are just to brush up public sentiments and confidence. The public should not be given a false sense of security. Many people worldwide, including Singaporeans are going to be hit very hard by this recession!
Retrenchment is expected to be at an all time high!
It does not take a genius to tell you that 2009 is going to be worse than 2008! In fact, 2009 is going to be the worst year in several decades!
Answered By: Foreign Talent - 1/12/2009 |
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Most companies are controling their expenses and many company restricting travel too. Some Singapore Based American company even collect tax from their employee for their time spent oversea to offset clients' tax. The BUBBLE had burst and recovering will take a little longer to be felt. I expect to see somethings positive after the 2nd and 3rd quarters this year.
Answered By: Bionix - 1/12/2009 |
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Things will get worse before it can get better.
I am not confident of my job security in these highly volatile and increasingly dismal employment situation worldwide and particularly in Singapore.
It will take a long time before one can find another job if retrenched.
Answered By: AC - 1/12/2009 |
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As i think it getting worse. till now i got no job since 16/12/08 after retrenched.
Source(s):
If you work hard aslo you will be retrench. I work 4 year in Parkway Hospital Singapore Pte Ltd. with the mission People in important. It is a sad for me without been told in advanced that i will be retrenced. My GVP and Assistant Manager not even a word of motivation. Till now i still not even received that letter of testimonial by the company.
Answered By: myabdulrahim - 1/12/2009 |
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I personally believe this does not reflect the correct sentiment on the ground in singapore. This piece of news is basically written to boost the morale and confidence level of many singaporeans. The future is bleak. My ex-company which is an american company is down-sizing its operations in singapore and retrenching more than 50?f its sg staff. Look at the 1997 recession, it was reported in the papers that we are in a technical recession and experts say there is no such thing as an "technical recession". A recession is a recession, it is a fact. Vice versa, the job market is now in bad shape and it is going to get worse if things don't improve in overseas markets.
Answered By: Richard Neo - 1/12/2009 |
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I Felt that all the employers are not willing to employ non - experienced workers,they should try their best to hire them instead of leaving them behind.
Answered By: michael chua - 1/12/2009 |
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Banks should relax & give out more personal loan to those retrenched and repayment to start 6 months after been employed again.
Answered By: realtysg - 1/12/2009 |
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It all depends on the age and capability of the person. Well, I believe anyone can get a job if they are not fussy about the job specification and its pay. Nowadays there is no guarantee in anything. Everything is a gamble. Life is a gamble too. I cant guarantee that I will remain in my job forever. Anything can happen. Three of my colleagues were asked to leave in 2008. Dun really know what would happen in 2009 but it appears the "Recession" will hit harder after the festive season. Singaporeans will definitely feel their pockets burning every second. Therefore I urge Singaporeans not to be too complacent. Just be on the guard!
Answered By: Phoenix - 1/12/2009 |
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There would still be job openings for 2009. In fact, Singaporean and Singaporean PRs would always be a priority.
If you are an engineer( electrical / electronics) from recognized university here in Singapore, electricians, carpenters, pipe fitters , or anyone who is looking out for job . call us at 68549810 ext 810.
The effect of recession is on selected industries only. But most of the companies feel the gloom of recession because of "fear" that maybe somehow their organization will be affected.
If you are looking out for job, just make sure you wanted that job not just because you will take it for bread and butter.
To the part of the company, be careful in choosing right candidates for your organization. "Man is the best resource of the organization". So, retain it!
Answered By: mooh.meeh - 1/12/2009 |
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I think year 2009 world economics will get better. Singapore always is the great country and sure Singapore will survive in this finance crisis.
If i'm get retrenched sure i will founded one new job even i'm Malaysian.
Don't worry, tomorrow always is better...
Answered By: WindWalker - 1/12/2009 |
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I think most of us agree that the reports are to calm people down. Of course there's rich people & Poor people. And also people like me = Not rich not poor, just nice. Can survive but no savings. salary all spent monthly.
My husband was terminated last Nov, due to absent for work. And he did not attend work due to injuries from work. He can't walk at all. And all the bosses knows about it, but in the termination letter. They mentioned, absence without notice. The worst part is, when I called MOM. They say the company has the right to terminate employee with at least half month compensation if the employee works less then 5 years with the company..... What is this? I think we are not sercured at all.....
Now with my husband down. We are already in debts.
My company is cutting cost, I need to work shorter week. Which means I will bring home lesser money.
Like our family, with 2 teenage kids. I don't think we can survive for long.
Anyway, I believe: God won't give Problem without Solutions..... Things will get better!!!!
Answered By: Eddou - 1/12/2009 |
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Economy should worsen by mid 2009. To make things worse, there are more and more China people working here. Seriously, why can't they just go back to where they belong? Their jobs can be taken up by students on school holidays or even housewives. China is so much bigger. They should just go back to their country and find their own jobs there, rather than snatching OUR JOBS. They may be "cheap labour", but we're talking on quality here. They can't speak English and I don't even understand THEIR TYPE OF CHINESE. *Faints*
Answered By: sHeRyLiCiOuS - 1/12/2009 |
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Nowadays it is difficult for me to get a job. Most employers wants experience workers. It has been 6 months plus but still looking for a job.
Answered By: Cool1982 - 1/12/2009 |
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Probably worst now that alot of companies are freezing their headcounts. Who would really want to hire when the economy is bad? The worst is that with the high living standards in Singapore, how can we sustain ourselves when we are jobless. Loan made for housing, increased in transportation cost etc... Just hope that the economy wouldn't go any worst and the government step in for measures to ease some of our worries and to lighten some of our load....
Answered By: yvteng - 1/12/2009 |
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After reading so many comments written in this forum, there is indeed some serious consequences affecting SG work market for 2009 and beyond. I believe in some of the valid points written by other readers and i would like to share some of my view regarding this issue.
Firstly, what are the policies in place by the government or their active roles involved that can really help the public and people like us. The government take a active role by initiating a pay cut on the government sectors and ministers payroll was make public some months back. This was indirectly sending signal to commercial sector to follow the leads. A simple question, as publish on the ST regarding ministers payroll and packages. Given a blue collar worker taking home S$1200 with a 20?ay cut compare to a someone commanding S$12,000 with a 20?ay cut. This make a big different although both is numeric 20?eduction. Personally i welcome the active roles taken by the government but i fail to agreed in the way they process this issue.
Alot of issue been always constantly discussed and brain stormed. We as Singaporeans should always keep our self competitive by constant working and up-grading oneself. This idea is fine but is it relevant across the age gap? How do you stay competitive when you are in a ripe age above 60years old? When your body is failing.Elderly people has slothed all their life to built SINGAPORE into what it is today. Shouldn't the government do more to assist them? I am sorry that i have to bring this issue out in this way, it just give me a sense of in-security in how the elderly is been treated in Singapore. As far as i can see, the Government will only invest on Cash Cows...
Answered By: kittlim - 1/12/2009 |
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They are using the Maths theory of Mean, Mode and Median as taught in the Secondary School to fool the common people in believing them, furthermore it is just a survey and answer they get might not be that accurate. 70?ut of the air? there is no mention.
This market is really bitter...I sent 50 resume and get back only 2, and I am only 40 yrs old sharp. I am not choosy, but I still need to calculate how much my basic pay to drawn to be able to substain the CPF installment of my flat, I can't downgrade simply because I am still buying a small and yet expensive flat eventually.
There is no such thing as job secure now-a-days unless u are signing a life time contract or bond with the company. Every PRIVATE company I come across is either freeze headcount or cost cutting, unlike gar...
I am urging the government to setup a CPF Retrenchment Account and partial CPF contribution by the employer will go directly into this account and can be withdrawn during age 55.....if u need more detail abt it plz contact me by e-mail.
I can only expect the market to be recover only at least in the begainning of 2010.
Answered By: myhorsalwayswins - 1/12/2009 |
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It's definitely going to be a tough yr ahead... with so many companies freezing headcount, pay-cut, unpaid leave etc... but it's still better than retrenchment.
even though the market is sour, i'm still hopeful of getting a job when i grad this june! i'm sure there are still companies looking for people to fill up their vacancies, only thing is moving slowly.
supply is lower than demand but that doesn't stop me from sending out job applications. just got to be more active in looking for jobs this time.
finger crossed. i'm praying for the best and preparing for the worst to come.
no matter what, the earth is still moving, the sun is still rising from the east... despite the fact that the world is facing recession :(
Answered By: scarlet - 1/12/2009 |
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We are already in Recession! Its a matter whether you noticed it, feel it or not. This will drag till at least 2nd - 3rd quarter. No-body's job is secured. What's worst is we Singaporeans are not just competing among us but also with foreigners! What security? Even the uncle at coffee shop can loose his job competing with foreigners from China and Philippines - let alone middle income and top executives. We Singaporeans facing pay-cut ... why not CPF cut instead of pay-cut since we need the money to sustain daily expenses. That way both employer and employee can tide things over though not much. No jobs is ever secured ... especially not for a while. Brace yourself!
Answered By: Lim - 1/12/2009 |
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Current market, no one would like to take the risk of changing of jobs even right after they have gotten their year-end bonus. No job is going to be secured, which they used to be:- the government sector eg Army, HDB or Banks. Guess what, DBS is the first bank in Singapore kick off with the retrench trends. Singaporeans are burden with bills, kid's educational costing, entertainment expenses, transportation cost... Thank God, my company still giving out 2 months ex-gratia. Year 2009 will be tough, we really need to buck up!
Answered By: Meike - 1/12/2009 |
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The 70?ingaporean ought to rethink if they really feel their jobs are really iron rice bowl. In this new world economy, technology move too fast and world economy is so fragile, risk is high ...who can really anticipate this financial crisis beforehand that wipe out so many established ...company and cracked our rice bowl.
I hav been jobless since Jun 08 till now i'm till can't get a job, so I'm in the 17?essimistic folks.
Answered By: retrenchfolk - 1/12/2009 |
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Quite fair.2009 will be the worst of this century.
Answered By: pander8 - 1/12/2009 |
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Answered By: Albert C - 1/12/2009 |
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Many singaporean are jobless not because of the Economic it because of china people everywhere now all china we singaporean no job i have been jobless for 1 years now because of china 2009 it will get worse more china are waiting to get a job in singapore we singaporean must get china people out singapore now or we are jobless
Answered By: peter - 1/12/2009 |
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The concern will be those professional in late 40 age up in getting job. Although govenment claim to creating more jobs, and encourage mid-career change. A friend ( early 50) of mine applied for teacher post, he was been asked how many years more can you teach ? Of course, he was rejected. It seem like "mid-career switch" is more to referring only to those in early 30. Hope the government do really create jobs for late 40 up. As this group,family expenses are at highest as their children are mostly in late-teen or young adult ( but not ready to earn living ). When come to retrenchment, most MNCs will place them top in the list to go.
Answered By: PAP - 1/12/2009 |
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Really very worse in 2009. may be economy will be come better on 2010.
Source(s):
better save our present job until economy will normalized.
Answered By: JEYARAMAN S - 1/12/2009 |
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To a layman, ours basically a trading economy. Our main trading counterparts: United States, Europe Union, can be unannounced bankrupts. That means those who feel their jobs are secure could be kidding, or really ignorant about it
Perhaps the younger graduates of 20?an be absorbed by the Civil Service quickly, such as MHA, ICA, MOH, MOE
Those trained by 2009 exposure would still find 2010 even more agonising (hopefully 2007 & 2008 to be educational, 2009 & 2010 to be survival test, and we all survived, and gradual rebound/recovery of some sort, although really quite unlikely)
Many/most hope could catch our breadth from early 2011. Wonder what will be for 2012 and beyond?
Let us hope more public education can be available to enlighten people on such matters: diligently earn as much income as you can without harming others, diligently saving as much as you can without sacrifying safety.
I believe to focus full diligence on investments for portfolio income (remember if our main trading counterparts can be unannounced bankrupts, and they may collapse without notice)
Last but not least, can work hard, long hours, but never gamble with/without leverage (unlikely anyone has the stamina to be diligent for long period during such time)
Sleep well every night/day to be diligent (too dangerous to minimise good sleep)
Answered By: solvent - 1/12/2009 |
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I may believe that the abled people able to find job - quickly 'beat' disabled in finding job faster.
Some handicapped such as hearing impaired and other handicapped people - had really hard time in searching new job in between 6months to 1.5 years.
I am wondering if the discrimination still really 'exists' among companies in Singapore do not give the chance the handicapped people to find job. Should all the Singaporeans be equal - One united, people regardless of race or language or reglious. If they were handicapped, they would feel the 'terrible' feeling in disappointment or anxious or desperate to looking for jobs after several times. They are not 'fault' to be born to be handicapped.
I still do believe that there are some kind hearted souls in Singapore. Hopefully the companies in Singapore should stop 'discrimination' and give everyone the chance.... they would see the better 'difference' if handicapped and abled should be able to interact working together.
Answered By: Upset - 1/12/2009 |
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My colleagues and me are relatively secure because our company deals in agricultural related products which is more protected from the effects of the current market fluctuations. Afterall, people still need to eat. However, the company's guideline is to be prudent in 2009 and we have started seeing a slowdown in recruitment and restricting business travel.
If I get retrenched, I think I can get a job quickly but at drastically reduced pay. Hence, I agree with the survey results to a certain extent.
Finally my optimistic view would be for situation to get progressively worse for 1st 3 quarters, with some slight improvement perhaps in the end of 4th quarter.
Answered By: chindori - 1/12/2009 |
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It's time for the Government to make decision. Enforce protection for all singaporean workers being retrench. Enforce those being retrench to be re-employ again by the company with entry level salary. Government have to look after singaporean. If enconomy does not recover fast, jobless rate will be up. Crime rate will increase as people are desperate.
Private company are waiting for the Government to take action fast to help them to cope but seems like Private Company have to make the hard choice to retrench first in order for Government to help, each waiting for each other. So who suffer? We the employees
Why the Government have to wait till all this retrenchment starts then take action? Why? Isn't it too late. Job lost, family and children suffer.
Government can also help those retrenched who own bank debts, extend payment periods quarterly.
Government say" Education is the key during recession" but tomorrow we need to eat not 1-2yrs later. Month end need to pay high electric bills
which is cause by rise of petrol price.
Country like Australia, Union care and protect the people.
Recovery of enconomy will be slow, heard Parkway Hospital is still retrenching staff now since 15 Dec 2008.
hard to find jobs these days. Feeling down since my retrenchment.
Answered By: John L - 1/12/2009 |
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