Singapore's annual job growth at risk of crashing 50% versus 2007 peak

What scary scenarios could this imply?

According to a Bloomberg article, Tony Cousens spent more than S$100,000 ($79,000) to find waiters and housekeepers for the Ramada and Days Hotels in Singapore. Months after the two establishments opened, he is still about 100 people short.

Cousens’s plight underscores the new reality for an economy that probably delivered the biggest employment surge among 33 advanced economies in the decade to 2014, according to data compiled by Bloomberg. Singapore’s annual jobs growth may halve in the coming years from a 2007 peak as the island widens a clampdown on foreign workers, Bank of America Corp. estimates.

View the full article here.

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