1. "Resident, citizen unemployment in Singapore edge up in third quarter - CNA 15 Dec 2015
SINGAPORE: Amid a softer economy, unemployment among residents and citizens edged up in Singapore and overall employment grew by the slowest in six years, the Ministry of Manpower said on Tuesday (Dec 15).
Unemployment rose to 3.1 per cent for Singapore citizens and 3 per cent for residents in September, according to the latest Labour Market Report from the ministry. Overall unemployment remained at 2 per cent.
Overall employment grew by 12,600 in the third quarter, down from an increase of 33,400 in the third quarter of 2014. For the first three quarters of this year, overall employment grew by 16,200, the lowest growth since 2009.
Ms Femke Hellemons, country manager at Adecco Singapore; said: "Much of the slowdown in hiring in Singapore can be attributed to weaker international trade conditions and external factors, especially China’s economic slowdown,""
Interesting time to be unemployed. Christmas and all the feel good factors will be GONE!
Something to think about if these unemployed will face financial difficulties or not. If they do, maybe temporary assistance can be provided.
Hopefully it is just a temporary phenomenon and the unemployed will be employed with reasonably matching jobs and pay.
2. "Shorter leases among options mooted to help rental households buy flats - CNA 15 Dec 2015
SINGAPORE: Former flat owners now living in rental flats may soon be able to buy 2-room Flexi flats with shorter leases with a second concessionary loan and a housing grant, National Development Minister Lawrence Wong said.
These are some of the ideas the Housing and Development Board (HDB) is exploring for the Fresh Start Housing Scheme, Mr Wong said in a blogpost on Tuesday (Dec 15).
A new housing grant will help these second-timer families by reducing the amount they need to pay, while a second HDB concessionary loan will help those unable to get mortgage loans. Under the scheme, 2-room Flexi flats - currently only available to the elderly - may be offered on shorter leases to make them more affordable, Mr Wong said.
The grant, however, may be disbursed in a few tranches, subject to certain conditions, instead of a single lump-sum payout, he said. These flats may also be subject to restrictions such as a longer Minimum Occupation Period.
The Ministry of National Development (MND) and the HDB are currently gathering views on the scheme through a series of public dialogues.
“Taken together, the provision of another housing grant, another concessionary HDB loan, and a shorter lease flat are significant steps to help these families,” Mr Wong wrote on the blogpost.
“The 2-room Flexi-flats will be similar in size to their existing rental flats, but this will be a flat which they will pay for and will eventually be able to call their own, unlike a rental flat. This is the big difference.”"
I am NOT sure WHY the government would want to help these people to own a 'short leased' flat since they are obviously better off financially to be renting 'extra cheap' rental flats from HDB?
A shorter lease flat is just another pseudo 'rental' flat right? No? It is better that the family learn to live within their means and come out stronger instead of relying on government's grants to buy something that will NOT be 'an appreciating asset' to fund their retirement! People as this level will have to work all their lives to make a living and pay for their retirement. It is best that they focus on making a living, rent a government subsidised rental flat, and work on their next generation to give them a chance to get out of the poverty trap or vicious downward cycle!!
Am I being too tough? Maybe. It will be irresponsible to provide such a scheme as it is 'artificial, unrealistic and unsustainable'!
Must rental flat always be a rubbish dump? Surely people who are poor are not necessarily irresponsible people. Yes?
SINGAPORE: Amid a softer economy, unemployment among residents and citizens edged up in Singapore and overall employment grew by the slowest in six years, the Ministry of Manpower said on Tuesday (Dec 15).
Unemployment rose to 3.1 per cent for Singapore citizens and 3 per cent for residents in September, according to the latest Labour Market Report from the ministry. Overall unemployment remained at 2 per cent.
Overall employment grew by 12,600 in the third quarter, down from an increase of 33,400 in the third quarter of 2014. For the first three quarters of this year, overall employment grew by 16,200, the lowest growth since 2009.
Ms Femke Hellemons, country manager at Adecco Singapore; said: "Much of the slowdown in hiring in Singapore can be attributed to weaker international trade conditions and external factors, especially China’s economic slowdown,""
Interesting time to be unemployed. Christmas and all the feel good factors will be GONE!
Something to think about if these unemployed will face financial difficulties or not. If they do, maybe temporary assistance can be provided.
Hopefully it is just a temporary phenomenon and the unemployed will be employed with reasonably matching jobs and pay.
2. "Shorter leases among options mooted to help rental households buy flats - CNA 15 Dec 2015
SINGAPORE: Former flat owners now living in rental flats may soon be able to buy 2-room Flexi flats with shorter leases with a second concessionary loan and a housing grant, National Development Minister Lawrence Wong said.
These are some of the ideas the Housing and Development Board (HDB) is exploring for the Fresh Start Housing Scheme, Mr Wong said in a blogpost on Tuesday (Dec 15).
A new housing grant will help these second-timer families by reducing the amount they need to pay, while a second HDB concessionary loan will help those unable to get mortgage loans. Under the scheme, 2-room Flexi flats - currently only available to the elderly - may be offered on shorter leases to make them more affordable, Mr Wong said.
The grant, however, may be disbursed in a few tranches, subject to certain conditions, instead of a single lump-sum payout, he said. These flats may also be subject to restrictions such as a longer Minimum Occupation Period.
The Ministry of National Development (MND) and the HDB are currently gathering views on the scheme through a series of public dialogues.
“Taken together, the provision of another housing grant, another concessionary HDB loan, and a shorter lease flat are significant steps to help these families,” Mr Wong wrote on the blogpost.
“The 2-room Flexi-flats will be similar in size to their existing rental flats, but this will be a flat which they will pay for and will eventually be able to call their own, unlike a rental flat. This is the big difference.”"
I am NOT sure WHY the government would want to help these people to own a 'short leased' flat since they are obviously better off financially to be renting 'extra cheap' rental flats from HDB?
A shorter lease flat is just another pseudo 'rental' flat right? No? It is better that the family learn to live within their means and come out stronger instead of relying on government's grants to buy something that will NOT be 'an appreciating asset' to fund their retirement! People as this level will have to work all their lives to make a living and pay for their retirement. It is best that they focus on making a living, rent a government subsidised rental flat, and work on their next generation to give them a chance to get out of the poverty trap or vicious downward cycle!!
Am I being too tough? Maybe. It will be irresponsible to provide such a scheme as it is 'artificial, unrealistic and unsustainable'!
Must rental flat always be a rubbish dump? Surely people who are poor are not necessarily irresponsible people. Yes?
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