It will be inevitable that jobs will be lost during this recession. Given that it will last longer than usual and also the pervasiveness of the impact across all sectors.  This time round, the Malay-Muslim community may possibly be affected more broadly including (PMETs) - professional and executives.  

When we are talking about preparedness, I suppose the issue is whether people have adequate savings/reserves to tide over the period, to remain mobile in terms of skillsets, able to move to lower paying jobs in the short-term and/or are willing to change industries.  But this is easier said than done if the community has not managed to build up savings/skillsets since the last slowdown in 2001 and 2003.  These issues will crop up more as Singapore will tend to see more incidence of economic slowdowns/recession given its economic structure.


"The International Labour Organisation (ILO) said that under its most optimistic scenario, this year would end with 18 million more unemployed people than at the end of 2007, with a global unemployment rate of 6.1.  More realistically, it said 30 million more people could lose their jobs if financial turmoil persists through this year, pushing up the world's unemployment rate to 6.5 per cent, compared to 6.0 per cent last year and 5.7 per cent in 2007."