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It appears that Singaporeans are
generally still very self-reliant. In terms of coping with
unemployment, cutting back on spending, relying on savings and
depending on other family
members are the main financial coping strategies. Only a minority
reported receiving financial assistance from government, CDCs and
self-help groups. The key findings of the study are summarised in
Annex I.
The full 63-page report is available
online at the Manpower Research and Statistics Department’s
Internet website : http://www.mom.gov.sg/mrsd/publication
Annex I
KEY FINDINGS
Job and Wage
Expectations
Generally,
Singapore workers are aware of the challenges posed by increasing
global competition and are prepared to accept variable wages based
on the performance of the individual (68% of employed and 80% of
unemployed agreed with this) and company (61% of employed and 75% of
unemployed). There is also general acceptance of a pay cut when the
company is not doing well with 72% of the employed agreeing with
this.
Nevertheless,
there are variations among sub-groups with the less educated and the
lower income being less likely to agree to performance-based wage
systems.
Fear of
low-wage competition is more prevalent among the unemployed (73%)
than the employed (45%). Among the latter, proportionately more of
those employed in manufacturing and construction are worried that
their jobs will be filled by lower-paid workers.
About 6
in every 10 of the respondents agree that companies may need to
retrench workers to survive increasing business competition. The
better educated and higher skilled are more likely to be aware of
and understand the need for retrenchment.
The
majority (73%) of the employed expect to keep their job in the next
12 months.
Workers
in construction and financial services are the most anxious unlike
those in community, social and personal services who feel most
secure about their jobs.
Job
Search
The
unemployed are flexible in applying for different jobs (77%) in
different industries (72%) as well as jobs requiring them to work on
weekends (64%). Amidst the difficult economic conditions in 2003,
73% have also applied for jobs which require lower qualifications.
However,
certain specific job conditions are less preferred. Job seekers are
less likely to apply for shift-work (only 44% applied for jobs
requiring this), jobs which are more physically demanding (41%) and
service jobs which require waiting on customers (34%).
A
relatively low proportion (29%) applied for jobs which are overseas
or involve overseas postings.
Majority
of the unemployed (74%) are prepared to take pay cuts. Among them,
33% are prepared to take wage cuts of 11- 20% and 20% for cuts of
21- 30%. Another 17% are willing to take cuts of 31 - 40% while 21%
will even accept cuts of more than 40%. Job seekers with high
previous income and those unemployed for more than 6 months are
prepared to accept larger pay cuts.
Financial Coping
Strategies
Cutting
back on spending (83%), relying on savings (69%) and depending on
other working family members (58%) are the three main financial
coping strategies cited by the unemployed. Only a minority (2.1%)
reported receiving financial assistance from government, CDCs and
self-help groups.
Lower
income respondents tend to depend on their family and relatives for
help while those with higher education and previously employed in
the professional, managerial, executive and technical occupations
tend to depend on savings and less on help from kin.
Well-being and Outlook
Majority
of the unemployed (77%) receive encouragement and support from
family and friends and are not blamed for failing to get a job (only
28% feel they are blamed).
Many
have also discovered positive ways of spending their time (60%) and
learnt from their job search (55%).
However,
anxiety among the unemployed remains high. Worry about paying bills
(81%) tops the list of anxieties followed by anxiety brought about
by news of retrenchments and wage cuts (80%) and fear for the future
of their family (76%). Reflecting the weak economic climate at the
time the survey was conducted, there was not much optimism about job
prospects (only 39% were optimistic).
Source:
Ministry of Manpower Press Release 13 Apr 2004
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