What Singapore needs is less jobs. Yes, you read that one right.
Economic growth causes inflation. It makes goods expensive, even unaffordable for some of us. Inefficient economic growth leads to over population due to their need for manpower. With that in mind, it would make perfect sense to say that we want to have less jobs in Singapore.
To be specific, we want to cut away portions of our economy that is nothing but fat. We want to burn away the segments of our business community that is both unproductive and consume manpower inefficiently. The low skilled, low value jobs that do nothing but hog space and trap well skilled Singaporeans in low paying jobs. These industries… these jobs need to go.
GDP growth is pegged to productivity and manpower. Simply put, Manpower + Productivity = GDP.
As long as this country wallows in pathetic productivity, it will have to import the manpower required for healthy growth. This can be changed by eradicating sluggish industries. In the process of doing this though, some Singaporeans may find themselves out of a job – temporarily.
This is the very reason why an average worker needs to continually keep himself up-to-date with his skills and to always expand learning. With a razor sharp resume and an enthusiastic personality, the chances of a displaced worker continuing his career after a retrenchment would improve remarkably.
In 2014, the Ministry of Manpower reported this:
Fewer new jobs are created
Very slight rise in unemployment
A slight rise in foreign manpower
Sounds like a recipe for social media disaster doesn’t it?
However you wouldn’t be so surprised at the numbers if you understand why it is a good thing. It simply is the treatment provided to cure Singapore of foreign manpower overloading and unproductive industries.
The message to businessmen is this: Singapore is not a cheap place to operate. In a turbulent South East Asia, we have an oasis of calm, stability, quality living and talented manpower – and to enjoy all this, you’re going to have to pay.
If your business is not going to churn a good profit to pay its workers well, then maybe you’re better off locating your company somewhere else.
So the next time people tell you that the number of jobs in Singapore is shrinking – tell them that it’s probably part of the plan. And if they tell you that unemployment is rising – well, yes… that’s part of the plan too.