The holy than Thou, MIW has been conning Singaporeans all this while.
World's worst places to get a job
by Tara Weiss, Forbes.com
Wednesday, September 17, 2008provided byforbes
Overall, the largest decline was in Singapore. Hiring grew 53 per cent in the fourth quarter of 2007 and is expected to drop to 25 per cent in the same period this year.
Help Wanted?' Forget It.
Hiring across the globe is down significantly, according to Manpower's Global Employment Outlook for the fourth quarter, which previews hiring trends from October through December.
"It's not just finance and construction here in the U.S." says Jeff Joerres, chairman and CEO of Manpower (nyse: MAN). "The rest of the world is feeling a bit shakier."
That's the case even in China, where hiring had been rampant because of the changing nature of the economy and the growing middle class. Hiring in China grew at 13 per cent in the fourth quarter of last year. For the same time this year, it's expected to grow 12 per cent.
In the U.S., the outlook for the upcoming quarter is the least optimistic in five years. Hiring grew at 18 per cent in the fourth quarter last year and is expected to drop to 9 per cent in the same period this year. Last quarter it was at 12 per cent.
This report echoes the employment data released by the U.S. Labor Department last week, which reported that the U.S. jobless rate jumped to 6.1 per cent in August from 5.7 per cent in July. The economy shed 84,000 jobs.
What about the U.S. retail sector, which historically adds seasonal jobs during the holiday season? According to Manpower, retail hiring won't be at the same level as past years. Merchants are fretting that consumers won't be spending as much money as usual this December.
Joerres says the survey confirms the economic cycle in the U.S. is similar to the recessions of 2001 to 2003 and 1990 to 1991. This will be the fourth quarter of downward hiring in the U.S.
Overall, the largest decline was in Singapore. Hiring grew 53 per cent in the fourth quarter of 2007 and is expected to drop to 25 per cent in the same period this year.
Why the big hit there? Unlike China, which has enormous domestic demand for its products, Singapore mainly makes products for the U.S. and other countries in the west.
Other countries with the toughest hiring outlooks include Japan, which is expected to drop by 13 per cent year-over-year; the U.K., which is expected to drop by 14 per cent; and Spain, which is expected to drop by 18 per cent.
It's not all bad news. Small growth is expected in the Netherlands, where hiring is expected to grow by 3 per cent; India's hiring is expected to grow 1 per cent; and Belgium's is expected to increase by 2 per cent.
Go to Forbes.com to view the slideshow
World's worst places to get a job
by Tara Weiss, Forbes.com
Wednesday, September 17, 2008provided byforbes
Overall, the largest decline was in Singapore. Hiring grew 53 per cent in the fourth quarter of 2007 and is expected to drop to 25 per cent in the same period this year.
Help Wanted?' Forget It.
Hiring across the globe is down significantly, according to Manpower's Global Employment Outlook for the fourth quarter, which previews hiring trends from October through December.
"It's not just finance and construction here in the U.S." says Jeff Joerres, chairman and CEO of Manpower (nyse: MAN). "The rest of the world is feeling a bit shakier."
That's the case even in China, where hiring had been rampant because of the changing nature of the economy and the growing middle class. Hiring in China grew at 13 per cent in the fourth quarter of last year. For the same time this year, it's expected to grow 12 per cent.
In the U.S., the outlook for the upcoming quarter is the least optimistic in five years. Hiring grew at 18 per cent in the fourth quarter last year and is expected to drop to 9 per cent in the same period this year. Last quarter it was at 12 per cent.
This report echoes the employment data released by the U.S. Labor Department last week, which reported that the U.S. jobless rate jumped to 6.1 per cent in August from 5.7 per cent in July. The economy shed 84,000 jobs.
What about the U.S. retail sector, which historically adds seasonal jobs during the holiday season? According to Manpower, retail hiring won't be at the same level as past years. Merchants are fretting that consumers won't be spending as much money as usual this December.
Joerres says the survey confirms the economic cycle in the U.S. is similar to the recessions of 2001 to 2003 and 1990 to 1991. This will be the fourth quarter of downward hiring in the U.S.
Overall, the largest decline was in Singapore. Hiring grew 53 per cent in the fourth quarter of 2007 and is expected to drop to 25 per cent in the same period this year.
Why the big hit there? Unlike China, which has enormous domestic demand for its products, Singapore mainly makes products for the U.S. and other countries in the west.
Other countries with the toughest hiring outlooks include Japan, which is expected to drop by 13 per cent year-over-year; the U.K., which is expected to drop by 14 per cent; and Spain, which is expected to drop by 18 per cent.
It's not all bad news. Small growth is expected in the Netherlands, where hiring is expected to grow by 3 per cent; India's hiring is expected to grow 1 per cent; and Belgium's is expected to increase by 2 per cent.
Go to Forbes.com to view the slideshow
