According to the latest Ministry of Manpower (MOM)’s data on the employment landscape in Singapore, more workers were retrenched in 2015. A total number of 13,440 workers were laid off, the highest since 2008-09, which of course was the Great Financial Crisis period. The spike in retrenchments reflected the gloomy economic outlook and challenging times ahead.
As a wealth builder, my mantra is to work hard for money and also ensure that my money works hard for me. Being gainfully employed and having a good income is important in order for me to lay down a strong financial foundation for the family. Henceforth, the data on retrenchment is useful because they provide useful information on the impact of economic downturn and allow Singaporeans to identify which industry sectors are ailing.
The latest data from MOM is indeed worrying and I am thankful that I have a job. Sometimes, in the midst ...
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