04 August 2003

Unemployment in Singapore

Unemployment in Singapore blamed on foreign workers

" SINGAPORE - Rising unemployment as wealthy Singapore stumbles into hard times has rekindled a debate on the presence of about 800,000 foreigners, most of them workers, in the tiny city-state.
...Singapore's founding father and current senior minister, Lee Kuan Yew, was asked by a trade unionist why some Singaporeans working for a local firm were retrenched, while Filipinos receiving higher salaries were retained..."

I guess the economy there wasn't as it used to be. The GDP of Singapore in the year 2000 was $92.3Billion!