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recession is true?

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eechim
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recession is true?

Postby eechim » Thu, 23 Apr 2009 4:26 pm

so am thinking of the recession that is coming to singapore (am currently here for business trip and am wondering if it is worth pursuing a new job here (am based in europe)

of course you see the classifieds filled with jobs and some people saying it isn't all that bad but i heard that the coming recession will be the worst since the formation of singapore...
and if redundancies are to be made, us expats will be the first to go, is this the general consensus?

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Postby sundaymorningstaple » Thu, 23 Apr 2009 5:37 pm

#-o It's been happening since December. Wake up!

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Postby cavalier » Thu, 23 Apr 2009 7:24 pm

The growth rate is forecasted to be minus 5-9% this year. Hard to imagine how people can say the economy's not "all that bad."

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eechim
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Postby eechim » Fri, 24 Apr 2009 8:30 am

sundaymorningstaple wrote:#-o It's been happening since December. Wake up!


er...ok... :lol:

i guess i was hoping the rumours weren't true....but it hasn't hit bottom yet...just the beginning no?
lots of speculation but i know friends who are still getting interviews, though they are not expats but pr/sing/msians...

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Postby Miss Swan » Fri, 24 Apr 2009 8:46 am

eechim wrote:i guess i was hoping the rumours weren't true....but it hasn't hit bottom yet...just the beginning no?
lots of speculation but i know friends who are still getting interviews, though they are not expats but pr/sing/msians...


Rock-bottom, no but have we been hit by the waves? Definitely yes.

Yes interviews are still going around but employers are being extremely selective. Interviews do not equate job offers. Your friends going for interviews might very well not get the jobs.

Bottomline, it's a very, very slow market.

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Postby cavalier » Fri, 24 Apr 2009 9:01 am

eechim wrote:i guess i was hoping the rumours weren't true....but it hasn't hit bottom yet...just the beginning no?


Even the beginning of recessions have to be dated retrospectively so how the heck could you know if you were at the bottom yet? You are asking questions without answers right now.

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Postby winger7 » Fri, 24 Apr 2009 9:51 am

I suppose 2010 is the best we can hope for no..?

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Postby ksl » Fri, 24 Apr 2009 10:57 am

winger7 wrote:I suppose 2010 is the best we can hope for no..?
Sorry the UK unemployment is 6% now and expected to rise to 10% by 2010, what does tat tell you. Singapore may well have more job losses to come, as more output trade dwindles around the world.

Also the financial figures around the world are pretty dismal to say the least, the UK is screwing the consumer now with higher interest rates, many with no jobs...

Although all is not doom and gloom, the hype of better times does effect the stock markets, were money can be made, if shrewd enough.

Many companies will have to review their strategies, if they are planning on riding the waves of a recession, spending power is tight, so innovative and creative planning is needed to provide a reason to purchase one's product.

One needs to look at the product to re-evaluate it's benefits in a different light, if it's not selling, dropping price may not be good enough, if the demand isn't there. So a quick evaluation is needed to cut losses, or diverse into something that will support it.

We may see positive improvements starting in the USA by 2010, but it's going to take a long while to recover i believe.


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