Tag Archives: Singapore Business Review

RAPID AGEING IN SINGAPORE CAN COST YOU YOUR JOBS, WARNS MOODY’S

Singapore’s rosy economic outlook is at risk from the country’s greying population. A report by Moody’s Investors Service today revealed that economic growth could come to a standstill in the near future thanks to the country’s rapidly aging population. Moody's report, entitled "Population Aging Will Dampen Economic Growth over the Next Two Decades", notes that the unprecedented pace of aging will impose a demographic tax that will slow economic growth over the next 20 years in both developed and emerging market economies, as working-age populations shrink and household savings rates decline.

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8 things you should know about the updated Singapore Employment Act

The Employment Act is Singapore's main labour law that seeks to ensure reasonable employment standards while balancing businesses' need to stay competitive. With a greater push for better laws to protect workers mooted by the National Trades Union Congress, public consultations and tripartite evaluated by employers, unions and the Government, the Employment Act is slated to change in favour of better workplace protection.

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