Chitchat Unemployment and Layoffs rises among Singapore citizens in Q2

[johnny333]

http://www.bloomberg.com/news/artic...op-investors-face-losses-as-bond-risks-spread

Singapore Mom-and-Pop Investors Face Losses Amid Bond Risks

I'm a small time investor & I will never invest in Spore ever again because the system is stacked against you. Remember what happened with CLOB, the minibond affair, the CPF investment scheme.

There must be many other Sporeans who got burned. That may be why fixed deposits are so popular. Everytime I visit Maybank I see crowds investing in their term deposits. The rates may be low but at least you will get your money back.

 

[Unrepented]

Did MOM include students who graduated and couldn't find their first job?????

............

Figures released by the Ministry of Manpower (MOM) yesterday also showed the unemployment rate for Singaporeans rose to 3.1 per cent last month, from 2.6 per cent in March. An estimated 68,300 residents - of whom 60,300 are citizens - were out of work last month.

.......

 

[halsey02]

I'm a small time investor & I will never invest in Spore ever again because the system is stacked against you. Remember what happened with CLOB, the minibond affair, the CPF investment scheme.

There must be many other Sporeans who got burned. That may be why fixed deposits are so popular. Everytime I visit Maybank I see crowds investing in their term deposits. The rates may be low but at least you will get your money back.

Remember what Mee Siam Mai Hum said, when KLSE " pulled the plug"??? taking KLSE to the International Court Of Justice...I had a hard time explaining to my Tokyo Office back then on KLSE actions & "Mee siam" boast.

FD aka Time Deposits....at 0.5%? or ....I rather place them in milo tins.....Time Deposits rates was damn good in '79....I have customers in a long queues everyday, where I used to work....it was around 5%....or more.

 

[johnny333]

Remember what Mee Siam Mai Hum said, when KLSE " pulled the plug"??? taking KLSE to the International Court Of Justice...I had a hard time explaining to my Tokyo Office back then on KLSE actions & "Mee siam" boast.

FD aka Time Deposits....at 0.5%? or ....I rather place them in milo tins.....Time Deposits rates was damn good in '79....I have customers in a long queues everyday, where I used to work....it was around 5%....or more.

We all now know that LHL is good at making promises but not in delivering on his promises

The FD rates are pathetic but very popular at Maybank. I have to visit every month to pay my CC bills & I often see the Long lines because there are many aunties & uncles putting $ into FD.

I prefer to put my $ into dividend paying stocks.

 

[yahoo55]

http://sbr.com.sg/economy/news/sing...e-index-sinks-91-in-july#sthash.nioQtTJJ.dpuf

Singapore's manufactured products price index sinks 9.1% in July

Published: 30 Aug 16


The city-state's manufactured products price index has been on a steady decline, diving to a new low of 9.1% YoY in July.

According to the latest data by Department of Statistics, the producer prices worsened from 7.9% YoY in June. On a monthly basis, prices in July slips 2.4%

At the same time, the Oil index fell 21.1% while the non-oil indices slipped 7% YoY.

For non-oil sub-indices, the lower prices of chemicals & chemical products, machinery & transport Equipment, manufactured goods, and food & live animals were partially offset by higher prices of animal and & vegetable oils crude materials, and beverage and tobacco.

 

[yahoo55]

http://www.straitstimes.com/busines...-in-singapore-shrinks-for-14th-straight-month

Factory activity in Singapore shrinks for 14th straight month

Published Sep 2, 2016


SINGAPORE - The beleaguered manufacturing sector contracted for the 14th straight month in August as the global outlook remained weak.

The pace of contraction was slower than in July, but economists warned against over-optimism given that factories across the region remain mired in a slump.

The Purchasing Managers' Index (PMI) - an early indicator of manufacturing activity - came in at 49.8 last month, up slightly from the 49.3 reading in July. A reading below 50 indicates contraction.

 

[yahoo55]

http://business.asiaone.com/news/less-appetite-dining-out-economy-slows#sthash.g896ufSM.dpuf

Less appetite for dining out as economy slows

Monday, Sep 05, 2016


Restaurants here are taking a serious beating amid the slowing economy, with sales in the first half of the year dropping almost every month year-on-year.

The biggest fall was in March, when restaurant takings fell 9.8 per cent compared with March last year, according to figures from the Department of Statistics.

"The economy is generally slowing down and this might have caused Singaporeans to be more conservative in their spending," said the Restaurant Association of Singapore's executive director Lim Rui Shan.

CIMB Private Banking economist Song Seng Wun agreed, noting that wage growth has slowed.

"People still have to eat but they are more careful with how much they spend," he said.

And it is not just individuals and families who are cutting back. Companies are also holding fewer corporate meals at fancy restaurants, he added.

 

[myfoot123]

http://business.asiaone.com/news/less-appetite-dining-out-economy-slows#sthash.g896ufSM.dpuf

Less appetite for dining out as economy slows

Monday, Sep 05, 2016


Restaurants here are taking a serious beating amid the slowing economy, with sales in the first half of the year dropping almost every month year-on-year.

The biggest fall was in March, when restaurant takings fell 9.8 per cent compared with March last year, according to figures from the Department of Statistics.

"The economy is generally slowing down and this might have caused Singaporeans to be more conservative in their spending," said the Restaurant Association of Singapore's executive director Lim Rui Shan.

CIMB Private Banking economist Song Seng Wun agreed, noting that wage growth has slowed.

"People still have to eat but they are more careful with how much they spend," he said.

And it is not just individuals and families who are cutting back. Companies are also holding fewer corporate meals at fancy restaurants, he added.

So what! There is opportunity in every situation whether the economy is up or down. During winter, winter cloth are selling like hot cake. During zika period, the mosquito repellent business are thriving. If business are not able to tap opportunity during slowing down of economy, it is best to close shop and get out of this country for good. Singapore has no place for the unsustainable business.

If workers cannot tap on opportunity to start a business or become an entrepreneur, they will forever be trapped in a worker's body and mindset and lived to become someone slave for ever.

It is all in the mindset. If you think you are going to die, you will. If you think you can survive during dark times, you are the strongest and fittest of all human races. God created darkness so that people can see the light clearer. If you can't see the light, like in all lousy businessmen fearful during downturn, you are as good as blind and nobody should pity you for God's sake.

In my opinion, there are plentiful of businesses thriving out there. As the saying goes, they are the survival of the fittest and they don't whine even when the economy is less colorful. Let the whiner and the fearful be the loser in the bigger scheme of things.

 

[myfoot123]

Did MOM include students who graduated and couldn't find their first job?????

I personally feel that the unemployed has more opportunity, as compare to those who are employed but caved inside the office cubicle from 9-5. When you are jobless, you can search for opportunity and ready to hop on any ship that comes by. If you are employed, and do not love your job, you will be worried sick whether your Annual Leave will be approved during peak period, or do so regularly, to seek opportunity elsewhere.

 

[lifeafter41]

http://business.asiaone.com/news/less-appetite-dining-out-economy-slows#sthash.g896ufSM.dpuf

Less appetite for dining out as economy slows

Monday, Sep 05, 2016


Restaurants here are taking a serious beating amid the slowing economy, with sales in the first half of the year dropping almost every month year-on-year.

The biggest fall was in March, when restaurant takings fell 9.8 per cent compared with March last year, according to figures from the Department of Statistics.

"The economy is generally slowing down and this might have caused Singaporeans to be more conservative in their spending," said the Restaurant Association of Singapore's executive director Lim Rui Shan.

CIMB Private Banking economist Song Seng Wun agreed, noting that wage growth has slowed.

"People still have to eat but they are more careful with how much they spend," he said.

And it is not just individuals and families who are cutting back. Companies are also holding fewer corporate meals at fancy restaurants, he added.

That seems to be true, have a friend whose nephew was going to ord in Sep, planning on working with the restaurant that he has work on part time earlier on, now tells him it is not required any more as business is pretty bad.

So, ord means unemployed Liao.......

 

[mojito]

Ups and downs mah, economic cycle. Ups and downs. When it upturn we will all be glad!

 

[jw5]

Ups and downs mah, economic cycle. Ups and downs. When it upturn we will all be glad!

Your wife's legs also up and down, up and down............... when angmos are around.

 

[gongkia]

Your wife's legs also up and down, up and down............... when angmos are around.

ha..that is a simpleton's comment.

 

[jw5]

ha..that is a simpleton's comment.

Or gongkia's comment. Got You!

 

[yahoo55]

http://www.todayonline.com/business/barclays-said-be-cutting-about-100-tech-jobs-singapore

Barclays said to be cutting about 100 IT jobs in Singapore

Updated: 10:35 PM, September 5, 2016


SINGAPORE — British bank Barclays is cutting more jobs from its information technology operations in Singapore as part of moves to reduce costs, with the positions to be relocated abroad.

“We have now identified a number of additional roles that carry out global activity in Singapore which can be relocated. Regrettably, this will mean that roles will fall away in Singapore, and so we are working closely with the colleagues impacted to ensure they are supported throughout the process,” the London-based bank said on Monday (Sept 5).

Barclays, which employs about 3,000 staff here, declined to disclose the number of people affected. However, sources with knowledge of the matter were reported by Bloomberg as saying the lender is cutting about 100 jobs from its IT operations here. Some of the Singapore positions will move to India, said the sources, who asked not to be identified as the information is not public.

The latest reduction follows an earlier round of IT cutbacks in May, when some global IT roles in Singapore were moved to the bank’s other technology hubs, including the one in India, Barclays said. The bank earlier this year shut its cash equities operations across Asia as part of a reduction of 1,200 positions globally, with scores of employees from the Singapore office reportedly given marching orders.

Barclays is among many banks, such as Standard Chartered and HSBC, to cut jobs in a tough operating environment, as slowing global growth and stricter capital rules affect lenders. AGENCIES

 

[yahoo55]

http://business.asiaone.com/news/hi...d-half-2016-head-hunters#sthash.keBjBUGi.dpuf

Hiring freeze expected in Singapore for the 2nd half of 2016: Head hunters

Tuesday, Sep 06, 2016


Hiring activity in Singapore remains modest in the first half of 2016. The Ministry of Manpower (MOM) paints a dismal picture for the local employment market in 2016, Singapore Business Review reports.

"Hiring in the construction sector is expected to be moderate in 2016, on back of fewer awarded contracts in 2015 and sustained sluggishness in private sector construction demand.

"Disruptive technology revolution, changing business dynamics, market volatility, uncertainty, ambiguity and complexity is making organisations in Singapore rethink about their hiring strategies to source best talent.

Shedding light on jobs in the manufacturing sector in Singapore, increasing use of automation technologies could call for death of some jobs and cost the sector to experience layoffs in the year ahead.


Future Predictions: Hiring in the Second Half of 2016

Singapore head hunters predict hiring to be completely halted (hiring freeze) in the second half of 2016 and warn employers to be more cautious in their hiring efforts. Karen Tok, ScienTec Consulting's chief executive told the Straits Times that, "Hiring will be affected by the global business slowdown, a mix of competition from emerging technologies, and online businesses.

Considering the hiring freeze to be experienced by the country in the second half of 2016, many fresh graduates are seeking alternate career paths to progress.

Hiring demand for professionals in the marine and offshore segment will be weak in H2 2016. This could have negative spill over effects on firms in the precision engineering sector supporting the oil and gas market.

MOM expects some consolidation and exit of businesses this year. Redundancies are expected in sector that are undergoing restructuring and forecast weak external demand.

"Singapore banks" hiring intentions plunge on back of weak market outlook. Finance professionals looking to switch employers should be cautious about turning in their resignation letters without having a new job to fall back on.

 

[Bigfuck]

Logistic companies are also downsizing here where consolidating from the 2 racially insular and expensive Asia countries to Singapore. Heard that pink slip is out and post-dated for next year by 1st qtr.

 

[kkbutterfly]

why cant the company ask 20% of the FT to leave and gaive the jobs back to sg

 

[yahoo55]

http://sbr.com.sg/economy/news/char...ng-services-sector-in-q2#sthash.MDz2c8p1.dpuf

Chart of the Day: Check out Singapore’s decelerating services sector in Q2

Published Sep 9, 2016

Declining trade income is spilling over services.

Despite contributing 65% to the city-state’s gross domestic product (GDP), the service sector has been cracking under pressure, registering deceleration in the second quarter of the year with the dipping of trade income.

According to the latest report by Natixis, declining trade activity is feeding through into the service sector with a lag.

“For example, the banking sector is experiencing higher non-performing loan ratios, especially from sectors that serve oil-related firms such as Swiber Holdings Ltd and Ezra Holdings Ltd.,” the report said.

More so, retail sales have also registered sluggish growth.

“The lack of income growth in the trade sector is spilling over to retail sales through weakened confidence in future prospects,” it explained.

 

[yahoo55]

https://sg.finance.yahoo.com/news/pore-home-prices-down-2-020035504.html

S’pore home prices down 2.4% in Q2

Property Guru – Thu, Sep 8, 2016


Singapore saw house prices fall by 2.4 percent year-on-year in Q2 2016, effectively placing it among the worst performers, along with Hong Kong and Taiwan, revealed Knight Frank’s Global House Price Index.