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Independent Singapore
an hour ago
- Independent Singapore
'Two years off the job?': How layoffs and bad bosses are making Singaporean job seekers extra cautious
Singapore: Two years without a full-time job is a long time in a city where the cost of living is among the highest in the world. For some, it's a sign of the labour market's realities, and for others, it's a deliberate choice in the face of toxic work environments. On r/askSingapore, a recent discussion peeled back the layers behind why some Singaporeans are still looking for meaningful work after one to two years. One commenter described a friend who had taken a break from work to care for a child. When they tried to return, they hoped to match their previous salary. It didn't happen and as the months ticked on, the gap between what they used to earn and what they could now command only widened. From fresh graduates to mid-career professionals, many emphasised a shift in values. The traditional trade-off for many older Singaporeans — long hours, taking calls on weekends, and tolerating toxic bosses for the sake of stability doesn't hold the same appeal for the new generation. 'It's less of 'I want a cushy, comfortable, high-paying job,'' one commenter wrote, 'and more of 'If the company can [short-change] my parents and me over, I'm not going to benefit them anymore.'' This generation grew up watching their parents give everything — bodies, time, sometimes even their health to companies that rewarded loyalty with eventual layoffs, or eroded it through diminishing payoffs. One story in the thread captured the lasting scars such experiences can leave. The commenter had ignored red flags at a new job, only for the entire company to be retrenched 'for business reasons' as operations were moved overseas. 'Some of my ex-colleagues have yet to recover from this, mentally and financially. And in a way, I have also yet to,' they admitted. Now, they treat every small red flag from the interview to early workplace as a potential warning. To many netizens, a one or two-year job search might look like an inflated self-esteem. But threads like this shine an alternative perspective — many are not waiting for the perfect job, but for safety and the assurance that they won't walk into a workplace that drains them dry, only to discard them. In a labour market where retrenchments can come without warning, where the promise of loyalty has worn thin, perhaps the caution exercised by those abstaining from certain work environments is not indulgence, but self-preservation. Since Covid-19, many have lived through the shock of seeing their livelihood vanish. Holding out for the right fit isn't just about wanting a meaningful job but about making sure you don't lose your sanity and peace in the process.
CNA
2 hours ago
- CNA
Taiwan raises 2025 GDP growth forecast, cautious about 2026 outlook on US tariffs
TAIPEI :Taiwan's economy is expected to grow faster in 2025 than previously forecast due to strong tech demand but will likely slow next year, the statistics agency said on Friday, amid concern about higher tariffs and uncertain U.S. trade relations. Taiwan is a key hub in the global technology supply chain for companies such as Apple and Nvidia. Companies led by Taiwan Semiconductor Manufacturing Co Ltd (TSMC), the world's biggest contract chip maker, have benefited from robust demand for AI applications that have powered its exports. Taiwan's gross domestic product is now expected to expand 4.45 per cent this year, according to the official forecast from the Directorate General of Budget, Accounting and Statistics, higher than the 3.1 per cent it forecast in May. For 2025, exports from Taiwan are expected to grow by 24.04 per cent, the agency said, upgrading sharply a previous forecast of 8.99 per cent. The large upgrade is "unusual," which indicated robust demand for high-end chips and AI servers, said Cathay United Bank chief economist Lin Chi-chao. But for 2026, the agency forecast economic growth would slow to 2.81 per cent and exports would increase just 2.19 per cent, given the likely impact of U.S. President Donald Trump's 20 per cent tariff on Taiwan goods. Taiwan's government has said the 20 per cent tariff is "temporary" as it continues to negotiate with the U.S. for more favourable rates. Given the likely slowing of export momentum next year and the impact of U.S. tariffs on more industries, Taiwan's central bank could cut interest rates by the end of the year, Cathay United's Lin added. In the second quarter of 2025, the economy grew a revised 8.0 per cent, the agency said, its highest rate in four years and up very slightly from the preliminary reading, with tech demand robust as customers got in orders ahead of anticipated U.S. tariffs. Inflation, a key concern for Taiwan's central bank which holds its next rate-setting meeting on Sept. 18, is going to edge lower, the agency said.
CNA
2 hours ago
- CNA
Hong Kong Q2 GDP expands 3.1% y/y, full-year growth forecast maintained
HONG KONG :Hong Kong's economy expanded by 3.1 per cent in the second quarter from the same period a year earlier, supported by a surge in rush shipments following the temporary easing of U.S. tariff measures, the government said on Friday. The latest GDP figure was in line with the official estimate released in late July, marking the 10th consecutive quarter of expansion on the back of robust exports and strengthening domestic demand. Export performance was further boosted by a rebound in inbound tourism, increased cross-boundary traffic and a buoyant local stock market, all contributing to strong growth in services exports. Hong Kong's economy has been growing steadily in the past 2.5 years and the government said it was maintaining its full-year growth forecast of between 2 per cent and 3 per cent. Economic growth in the first quarter of 2025 was 3.0 per cent year-on-year, an improvement from 2.5 per cent recorded during the same period last year, the government said. On a seasonally adjusted quarterly basis, GDP expanded 0.4 per cent in April-June, the data showed. That compared with a revised 1.8 per cent in January-March and 0.9 per cent in October-December 2024. "Looking ahead, the Hong Kong economy is expected to maintain growth for the rest of 2025," acting government economist Cecilia Lam said in a statement. She added that measures to boost consumption and attract investment would support growth. "Yet, the tariff rates announced by the U.S. in early August stay elevated, and its tariff policy on some commodities remains quite uncertain," Lam said, adding that uncertainty around the pace of U.S. interest rate cuts would affect local investment sentiment. The forecasts for underlying and headline consumer price inflation rates for 2025 were maintained at 1.5 per cent and 1.8 per cent respectively. Overall investment expenditure rose further, driven by a sharp increase in spending on machinery, equipment, and intellectual property products. Meanwhile, private consumption returned to growth after four consecutive quarters of decline, according to the government.
