Economists upgrade outlook as Singapore economy up 4.3% in Q2 2025
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Independent Singapore
2 hours ago
- Independent Singapore
'If unemployment's so low, why am I competing with a small village for one job?'
SINGAPORE: A recent Reddit post made waves with job seekers all over the Lion City. One user, newly out of work and plunging headfirst into the job market, shared a startling disclosure: 'I recently left my job and was trying to job search. Boy, I was shocked at the number of applicants per job vacancy. Never have I ever encountered this in my entire job search history, but what seems contradictory is our government keeps saying unemployment data is low, like, how's that even possible? Are they drunk on Kool-Aid?' It's an attitude that has become increasingly familiar, scanning through LinkedIn and other job boards, and seeing a pile of applicants for just one job opening can be extremely depressing. The user's confusion triggered a burst of responses from fellow Reddit users, providing discerning and more insightful views of what those daunting numbers actually signify. More clicks, less clarity One of the most common responses was about the way job platforms count applications. It appears that not all 'applicants' are truly in the race or are actually applying. One commenter said, 'LinkedIn's representation is not accurate! I learned a bit late, but better late than never—they count as long as you click, so maybe a role in SG got 150 applications, but half could be overseas, and a chunk of the rest might not even complete the application. That 150 could actually be more like 50 real submissions.' This disclosure was informative. Many users don't know that ticking the 'Apply' button on LinkedIn frequently records them as applicants, even if they leave in the middle of the process. Some are even counted as new applicants if they click on the same job the next day or next week, so that jaw-dropping figure you see is the overblown result caused by inquisitive browsers, hopefuls from overseas, and unfinished applications. Unemployment ≠ job applications Another shared misunderstanding addressed was the supposition that every job application mirrors a jobless person. 'The number of applicants doesn't equal the number of unemployed in Singapore. People are looking to change jobs, people are applying out of the country, and people are applying just because.' Career movement means that even people with jobs or professionals with thriving careers may actively apply for new roles. That is because people continue to seek better pay, more career growth opportunities, or are simply trying to escape a toxic environment. Others are also freelancers looking for stability, or students pursuing entry-level roles even before their graduation. As one commenter concisely puts it: 'You left your job without finding another job first. Many people job hop after securing their next move. A chunk of applicants is already employed.' Advice to job seekers – stay flexible As a reaction to the apparent disparity between high rivalry and low joblessness figures, some users cited that economic task forces have been motivating job seekers to have an open mind and expand their prospects. 'Keep an open mind: Economy taskforce calls on new grads and job seekers to consider all opportunities.' That could mean taking a look at industries outside of one's comfort zone and usual scope, upskilling, or even considering contract jobs and gig roles as stepping stones. Is the Kool-Aid spiked? There's no trouble feeling sceptical, especially when personal experiences don't align with authorised data, but the statistics, as many Reddit users explained, aren't automatically inconsistent; they're just more complicated than they appear to be on the surface. What appears to be an outpouring of competition may, in truth, be just a combination of ghost applicants, duplicate clicks, not-so-serious overseas aspirants, and working professionals who are keeping their options open. For those navigating today's job market, the message is simple — don't be disheartened by huge numbers. Focus on honing your skills and improving your CVs, continue building connections, and always stay adaptable. The real competition might be less than you think, but the effort needed is still big.
Independent Singapore
2 hours ago
- Independent Singapore
Singaporeans dream of retiring abroad — but reality may be more complicated
SINGAPORE: A Reddit post on Jul 13 has sparked a wave of honest conversation among Singaporeans about what it really takes to retire overseas. In a country where the cost of living remains high and retirement age continues to climb, the idea of spending one's golden years abroad — where daily expenses are lower and space more abundant — is an increasingly attractive prospect. But how realistic is it? The original poster suggested that China and Malaysia seemed like reasonable retirement options — close to home, relatively affordable, and well-connected to Singapore. Others chimed in quickly, discussing destinations ranging from Australia to New Zealand, yet amid the hopeful anecdotes, one highly upvoted comment struck a chord: 'You can't just waltz into another country and retire like it's your backyard.' The commenter highlighted key concerns: legal residency, visa restrictions, and cultural and bureaucratic barriers. 'Golden Visas can cost a lot, and they are subject to change,' they warned. 'Imagine buying property in a foreign country, thinking you can retire there, only to have the laws change overnight.' Here's a closer look at what retirement abroad actually requires — from visa hoops to financial hurdles — in the most commonly discussed countries. Malaysia: The familiar yet formalised option Malaysia remains one of the most talked-about retirement destinations for Singaporeans — and for good reason. It's nearby, shares cultural and linguistic overlap, and has excellent and affordable healthcare infrastructure in Tier-1 cities like Kuala Lumpur, Penang, and Johor Bahru, but it's not as simple as hopping across the Causeway. The Malaysia My Second Home (MM2H) programme is the main long-term visa scheme. It offers three tiers — Silver, Gold, and Platinum — along with a special track for designated Special Economic and Financial Zones (SEZ/SFZs). Each tier comes with its own fixed deposit and property investment requirements, ranging from a modest RM 600,000 (about S$170,000) for Silver to over RM 4.5 million for Platinum applicants. For many Singaporeans, these financial thresholds — while not unattainable — require serious planning. China: More hurdles than hope for retirees Despite China's affordability and rich cultural offerings, it doesn't have a formal retirement visa. Foreigners looking to stay long-term often rely on the F-class business visa, which requires applicants to start or invest significantly in a Chinese company, with investment thresholds in cities reaching up to US$2 million (S$2.7 million). See also Stories you might've missed, Nov 12 Alternative options include spousal visas or stacking back-to-back tourist visas, but both come with uncertainty. Bureaucracy, language barriers, and limited access to public services for foreigners can make retiring in China a challenging path. Australia: Expensive, but comfortable Australia's climate, quality of life, and access to healthcare have long appealed to Singaporeans, but retiring there is both costly and impermanent. The Investor Retirement Visa requires proof of substantial financial assets — between AUD$500,000 (S$ 420,000) and AUD$750,000 — and an annual income of AUD$50,000 to AUD$75,000. The visa can potentially serve as a pathway to permanent residency, but it must be renewed in the meantime. Moreover, the upfront application fees can exceed AUD$11,000. New Zealand: A long game In New Zealand, retirees must either qualify under the parent category — which prioritises applicants with sponsors or income — or through investor routes. The latter requires at least NZ$750,000 (S$575,250) in investments and NZ$500,000 in living funds, with NZ$60,000 annual income. It also demands patience. The path to permanent residency takes at least five years, and as with other countries, applicants must show they can afford healthcare and insurance during their stay. Retiring abroad: Not just a financial question While online forums are filled with hopeful speculation about life abroad, the reality is complex and bureaucratic. Beyond finances, Singaporeans must grapple with the risk of changing laws, unfamiliar systems, and potential isolation, especially if family and friends remain in Singapore. Yet, the appeal is incredibly strong: cheaper housing, a slower pace of life, more space to breathe — add to the mix diverse weather patterns and new landscapes to explore. As the retirement age continues to push past 65, many are questioning whether it's worth waiting to grow old at home if home itself becomes unaffordable, whilst you witness the remaining tenure of your HDB decrease. The dream of retiring abroad is not out of reach. It's a dream that requires more than wishful thinking, a passport, and a property brochure — it needs a plan, patience, and a healthy dose of optimism.
CNA
2 hours ago
- CNA
India's HCLTech slides on lower operating margin forecast
Shares of HCLTech dropped about 3 per cent on Tuesday after India's No.3 software services provider lowered its annual operating margin forecast, dampening hopes of a rebound in client spending across the sector. On Monday, HCLTech reduced its annual operating margin forecast to a range of 17 per cent to 18 per cent from a previous projection of 18 per cent to 19 per cent for fiscal year 2026.
