Productivity = Economic growth = no ‘S’porean’ jobs?

I refer to the article “Productivity set to grow by 3% – the highest since 2010” (Straits Times, Nov 25).

It states that “As the economy recovers, productivity growth is set to reach about 3 per cent in 2017 – accounting for all, or almost all, the economic growth for this year, Manpower Minister Lim Swee Say said last night.”

As to “While total employment fell in the first nine months of the year, this affected mainly foreign workers. Local employment rose by about 9,000 in the same period, and full-year growth is likely to be higher than the 11,200 last year” – if the estimated number of new permanent residents  (PRs) and new citizens granted this year is similar to last year – the number in the first nine months of this year may be about 24,000 new PRs and 15,000 new citizens.
If just 40 per cent of the PRs are working – not many of the 9,000 local jobs growth may have gone to Singaporeans.

With regard to “This will be the highest productivity rise since 2010, and a marked improvement from the 1 per cent growth last year. Productivity growth ranged from -0.2 per cent to 0.9 per cent from 2012 to 2015” – even if productivity growth hits three per cent this year – it may need to be seen in the context that cumulative productivity growth for the last nine years or so, from 2008 to 2016 was only 4.8 per cent.

 

Leong Sze Hian

 

 

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8 Responses to “Productivity = Economic growth = no ‘S’porean’ jobs?”

  • oxygen:

    PRODUCTIVITY GAIN by retrenchment of more labor?

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  • MarBowling:

    The announcement of the so-called rosy economy and productivity growth figures must be Mai Hum sneaky manoeuvre to justify paying himself, his whole lot World Class Ministers and top guns obscene bonuses for this year end. Imagine the vast difference btw all these MFs who are getting at least 10 months bonuses to the Middle and Lower rank and file civil servants who are getting the most 2.5 months!

    Btw the scene on the ground doesn’t look rosy at all. Have seen a quite a number of neighbours who previously used to drive to work, now taking bus or MRT. Previously walk with chest out. Now walk Macham like zombie with head and shoulder drooping! Black hair turning grey or white fast! Wonder whether the PAPigs’ fiacking Mouthpiece Shits Times is reporting FAKE or REAL News! HoLee shits.

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  • LIONS:

    fiack the lou$y PIG$.

    All they know is to screw ordinary sgs with their cock policies.

    enuf of their craps.

    they have let down common sgs gravely and they show they couldnt be bothered???

    only IDIOTS still think so highly of them.

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  • pap selected INDIAN president:

    when pap justified the 2 casinos, how many jobs did pap say the 2 casinos will bring to Singaporeans?

    how come pap does not say one word about the number of Singaporeans hired by the 2 casinos? HOW come?

    +++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++
    pap lies. that is why INSIDE is not within. that is why INDIAN is malay.

    we must everyday remind each other about pap lies so that when New Government forms we can be the witness or reminder to prosecuting pap Ljs and pap Cbs for abuse of power.
    +++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++

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  • Harder Truths:

    More fake news.

    Productivity in $G = Low labour cost + high cost of living.

    Therefore Maximum productivity in $G = $G citizens become slaves

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  • Tom lee:

    …regardless S’poreans will still pay more taxes on top of what they are already paying more for.

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  • Feedback!:

    Just return home from HDB market this morning.
    1. Food stall holder complained business bad over past six months. He has another stall elsewhere. He said total loss about $20K so far.
    He said cost of operation like his foodstuff ingredients gone up. Cost of hiring helping hand now $100 per worker per day. Many of his neighboring stalls closed despite today being a Sunday. He said same situation in other heartland food courts and wet markets. Less crowd, less people eating out. He is seriously thinking of relocating to Thailand to do food business there where operating costs is significantly lower.
    2. Many wet market stalls here today closed. Don’t understand as being a Sunday business is normally brisk. Strange!
    3. Heard many shopping mall shop operators all over the island are groaning.
    4. This is another interesting story. Dunno true or not. Heard some people are going round buying used cooking oil from stall holders and refine it and reselling to other food stall operators at very cheap price. It seems some unscrupulous irresponsible food stall operators obviously to save costs are using these cheap used cooking oil. No proof. Be aware.
    5. Heard one guy at market cursing and swearing about forthcoming increase in GST and taxes. He unhappily said surely this means have to pay more from pockets and will affect expenses of many families.
    Dunno whether how true all this is about as yet to study the details. Only read newspaper reports that GST and taxes will be increased.
    6. By the way, many small time business friends said business going downhill.

    Therefore not too bright Sunday morning. Good luck to all.

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  • KHAWK and Bull story:

    Sir Leong,

    Singaporeans get what they asked for.

    They DESERVE IT.

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