SINGAPOREANS are preparing for the worst, with one in three
expecting to lose his job during this downturn.
A poll by TNS and Gallup International found that workers'
confidence has been dented by the global financial crisis.
Almost eight in 10 Singaporeans believe unemployment will rise
this year as the country's economy declines, with gross domestic
product expected to be between minus 2 per cent and 1 per cent.
The global poll was conducted between October and December last
year, with 45,700 people in 46 countries interviewed.
In Singapore, where 1,000 people were polled, expectations seem
bleaker.
Almost two in three Singaporeans say this year will be worse for
them than last year, compared with a global average of 35 per cent
who feel the same way.
Commenting on the results, Mr Wage Garland, managing director of
TNS in Singapore and Hong Kong, said such pessimism follows the bad
news and views expressed by leaders and business organisations
which are carried in the media.
'Media reports of these types of forecasts, the financial
difficulties of several major local retailers, falling property
prices and the layoffs already taking place in some companies have
made people realise that the global economic turmoil is having an
impact on Singapore,' he said.
But what is surprising, he added, is that it has yet to
undermine confidence in their own future. Despite the gloomy
forecast, seven in 10 working Singaporeans are confident of keeping
their jobs, even though most believe more people will be
jobless.
But should they lose their jobs, almost eight in 10 Singaporeans
fear it would take a long time to find a new one. Compared with
people elsewhere, Singaporeans are more pessimistic, with the
global figure standing at 54 per cent.