The slowing economy is a cause for concern — especially for what it could do to the job market in Singapore. These two issues came up top in an annual survey conducted by REACH, where 3,600 feedback forms were collected face-to-face and online from Feb 1 to Feb 26.
As the economy weakened last year, a total of 15,580 workers were let go, according to The Straits Times‘ report on data from the Manpower Ministry. That number marked the highest ever since the global financial crisis seven years ago, and workers aged 40 and above made up over 60 percent of the lay-offs, said TODAY.
So it seems like Singaporeans want the government’s Budget statement on Mar 24 to address these worries. More specifically, they want to hear about any measures that will be put in place to stabilise the economy and offer them job security.
Middle-aged employees are looking for schemes and training courses to help them acquire new skills for different industries, should they be affected by the slowdown. As for workers in their late 40s to 50s, a stagnant income and a shortage of job opportunities are their main concern.
Watch the Budget 2016 delivered by Finance Ministry Heng Swee Keat on Mar 24 from 3.30pm. It will be broadcast live on TV and radio, and streamed on the official Singapore Budget website.
