Singapore facing unemployment

January 21st, 2009 - 1:21 am ICT by admin  

Singapore may still be in need of foreign worker, in spite of the economic down turn but it is also likely to believe , 200,000 foreigners are set to leave. The population is to be shrinked in next two years as ’sizeable’ job losses amid the city- state’s deepest recession force 200,000 foreigners to leave, Credit Suisse Group.

By the year 2010, nearly 300,000 jobs may be lost, two-thirds of which are held by foreigners and permanent residents, economists Cem Karacadag and Kun Lung Wu wrote in the report, according to Bloomberg news.

The number of people in Singapore may fall to 4.68 million by 2010 from 4.84 million now, Credit Suisse said.

‘Foreign workers also help to keep our companies competitive against global competitors and keep jobs within Singapore. If companies become uncompetitive in Singapore, they may decide to relocate to other countries and we will lose more jobs. This will be a lose-lose outcome,’ he said in a written reply to a question from Marine Parade GRC MP Fatimah Lateef in Parliament on Monday.

Dr Fatimah had asked if the government would reduce the intake of foreign workers and work permits for the next one to two years, in light of the recession and lack of proper jobs and housing for these workers.

Jurong GRC MP Halimah Yacob on compliance with labour laws and work permit rules, Mr Gan said companies employing foreign workers must comply with these laws regardless of the economic situation.

‘If they employ foreign workers, they are expected to provide work for these workers. If employers have no work or insufficient work and are no longer in a position to take care of their well being, they should repatriate the workers,’ he said.

He said his ministry would step up checks on foreign workers’ quarters and crack down on errant employers if they do not provide acceptable housing or fail to pay their workers.

He urged employment agencies to play a useful role in the protection of foreign workers.

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