Success of Job Credit Scheme Refuted In MS Report

Yxxxone SG

http://www.morganstanley.com/views/gef/index.html#anchor12bde100-46cc-11de-bda3-5555f0e7cbb4

Morganstanley.com, 22 May 2009, Deyi Tan & Chetan Ahya | Singapore, Shweta Singh | Mumbai

Singapore - Is it Really a ‘Job-Rich' Recession?

"Employment growth in Singapore lags GDP growth by around two quarters. On the way up, corporates are usually slow to add to headcount, preferring to increase overtime hours for existing workers until the macro recovery firms. On the way down, human resource management simply cannot be as precise as just-in-time inventory management. The demand shock tends to be absorbed first by the profit cushion before the wage cost containment exercise starts."

"Historically, hiring has been strongly tied to capacity additions/capex trends rather than GDP growth per se. Indeed, through our channel checks, we note that hiring in pockets of the economy has not been driven by stronger end demand (demand growth has been poor, as data suggest). Rather, we are seeing hiring in areas where previously commissioned capex plans have now come onstream."

"Policy measures such as Skills Programme for Upgrading and Resilience (SPUR) and the Job-Credit Scheme were rolled out late last year and earlier this year, respectively, and with only 1Q09 jobs data available, the jury is still out on how effective these measures have been."

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deepak.c SG

Bring in more foreigners so that Singaporeans will have more jobs!!!

Foreign workers give jobs to Singaporeans.

Man!x SG

Bring in more foreigners so that Singaporeans will have more jobs!!!

Foreign workers give jobs to Singaporeans.

i will like to see the Government explain this theory.

charlize SG

i will like to see the Government explain this theory.

Lesser mortals will never understand these kind of complex theories.

charlize SG

Bring in more foreigners so that Singaporeans will have more jobs!!!

Foreign workers give jobs to Singaporeans.

Yesiree.

Bring in younger and prettier ones so that our older senior citizens can have more jobs at the kopitiams.

angel7030 SG

i will like to see the Government explain this theory.

theory?? why go for theory when the practicals are already in Action, go to any hawker centres and you can see old aunties and uncles collecting plates supervised by Bangala supervisors.

Go to most companies and you see their IT are controlled by foreigners rather than Singaporeans, go to any legal massage centres and you can see PRC massagers controlling singaporeans tea ladies and helpers. And finally but not the least, if you go to Zoo or birdpark, you see the foreigner workers with gfs been serve by Singaporeans gatekeeper.

angel7030 SG

Yesiree.

Bring in younger and prettier ones so that our older senior citizens can have more jobs at the kopitiams.

that is not a job, that is leisure, not only foreigners bring in jobs for us, they also bring in leisure and joys to many of our Uncles.

I would say that because of these PRC gals and aunties at kopitiam, it bring more jobs for kopiboys and beerladies and of course the kopitiam business too.

charlize SG

that is not a job, that is leisure, not only foreigners bring in jobs for us, they also bring in leisure and joys to many of our Uncles.

I would say that because of these PRC gals and aunties at kopitiam, it bring more jobs for kopiboys and beerladies and of course the kopitiam business too.

Minister once commented that those young and pretty foreign ladies serving beer at the kopitiam attracted men to come drink at the kopitiam and so saved jobs for the rest of the local aunties.

http://www.straitstimes.com/Free/Story/STIStory_228309.html

deepak.c SG

Ahh......the Angel of Geylang has spoken.

Angels are not lesser mortal right?

angel7030 SG

Minister once commented that those young and pretty foreign ladies serving beer at the kopitiam attracted men to come drink at the kopitiam and so saved jobs for the rest of the local aunties.

http://www.straitstimes.com/Free/Story/STIStory_228309.html

True, with more Uncles patronising kopitiam, not only foreign beers ladies from thai and PRC are getting jobs, those bottles and plate collectors, cleaners, sweepers, toilets 10cents/entry etc etc plus food bosses are booming, and beer drinking is recession proof. Good times drink, bad times drink more. The only bad news is their poor wifeys will be getting angry and angrier.

angel7030 SG

Ahh......the Angel of Geylang has spoken.

Angels are not lesser mortal right?

Well, u got to be realistics, i hv seen Singapore aunties make up so thick, press up the bra so high, wear so low and sexy, but still cannot match a typical PRC 22yo gal. And with the Chang beers' thaigals promoting, our Singapore aunties look like dinosaurs.

pearlie27 SG

i’ve read the original article. It didn’t refute the Job Credit Scheme.

BTW, didn’t Yxxxone quote “the jury is still out on how effective these measures have been.”? The jury is still out means no decision has been made; the public’s opinion is not known, or in other words no conclusion has been made on the effectiveness of the Scheme.