Currently, my 3 close relatives and a friend, armed with degrees, are all sitting at home:
1. Advanced Diploma Marine and Shipping – PMET in late 40s (unemployed for 1 year)
2. MBA from states – PMET early 40s (unemployed for 3 years)
3. NUS Comp Science – PMET early 30 (unemployed for 2 years)
4. Accountancy SIM – PMET mid 40s (unemployed for few years)
Singapore’s unemployment rate at 1.8% is probably the lowest in the world, but how can this be when I see more and more unemployed or under-employed people around me?
All I can conclude is that the government are fixing the stats:
1. By massive import of cheap FTs, the total number of employed goes up astronomically, dwarfing the local unemployed, resulting in very low unemployment stats.
2. Tweaking the conditions of unemployment i.e. more than 6 months not counted, on training considered employed, on contract considered employed, driving taxis/doing insurance/property considered employed etc.
We do have a lot of PMETs who have lost their jobs and have no choice but to take up taxi, property and insurance licenses. They want their old job but are doing temp now. And I’m sure, for taking up such jobs even though it is out of necessity, the government will still consider them to be “employed”.
The good economy is derived from overtaxing Singaporeans and casinos. Citizens have not really benefited. But to continue to hoodwink the public into believing that a good economy means many good jobs, they are “fixing the stats” through various means.
With so many unemployed and underemployed people around me, how can I believe the government’s unemployment figure?