Economist, Centennial Asia Advisors

Jason Tan

Economist

Centennial Asia Advisors

At Centennial Asia Advisors, we tell it like it is. We have no vested interests, no need for a China wall, and no reason to skew our outlook any other way. With over 30 years experience covering Asia’s political economy, you can be sure our conclusions and analyses are based on the unadulterated facts. Through years of fine-tuning our research methodologies, we deliver a quality of macroeconomic analysis few other houses can match.

Centennial Asia Advisors is an independent research and advisory firm that works with governments, multilateral institutions, financial firms and leading MNCs.

Economic Policy and Strategic Advisors

Macroeconomics

<ul><li>Labour market conditions are weakening in Singapore: Growth in total employment was the lowest since 2003; layoffs are at a six-year high while job creation for locals has flatlined. Older employees are finding it harder to be re-hired after being made redundant and could also be facing obsolescence.</li><li>The softening job market could add to economic woes, particularly for the household sector. Should the labour market weaken further, private consumption could fall significantly while repayment of home loans could get become more onerous.</li><li>Singapore needs to remain special to retain high-quality, good-paying jobs while Singaporeans need to embrace lifelong learning and stay ahead of the curve. Importantly, Budget 2016 must provide urgent policy action to reignite the spark in this economy.</li></ul>

Labour market conditions are weakening in Singapore: Growth in total employment was the lowest since 2003; layoffs are at a six-year high while job creation for locals has flatlined. Older employees are finding it harder to be re-hired after being made redundant and could also be facing obsolescence.The softening job market could add to economic woes, particularly for the household sector. Should the labour market weaken further, private consumption could fall significantly while repayment of home loans could get become more onerous.Singapore needs to remain special to retain high-quality, good-paying jobs while Singaporeans need to embrace lifelong learning and stay ahead of the curve. Importantly, Budget 2016 must provide urgent policy action to reignite the spark in this economy.

Singapore: Labour Market Woes Indicative of Fragile Economy