At this moment, be aware of karmic causes and consequences.
- www.tbsn.org
- wong chee tat :)
Friday, April 3, 2009
Survey shows Singaporeans least optimistic about future
Survey shows Singaporeans least optimistic about future
Channel NewsAsia
Channel NewsAsia - Friday, April 3
SINGAPORE: Affluent Singaporeans are the most pessimistic in Asia when it comes to their future, according to a survey by life insurer AXA.
Eight Asian economies — China, Hong Kong, India, Indonesia, Malaysia, the Philippines, Thailand and Singapore — took part in the survey which was conducted between January and February.
The Philippines was ranked as the most upbeat, with a score of 84 on a scale of 100, followed by India’s 83.8 and China’s 66.9.
The survey polled 2,700 mass affluent residents between the ages of 25 and 50 on their views about life over the next five years. The study covered four aspects of life — career, retirement, family and health.
The 300 Singaporeans polled generally had the lowest scores in all four categories.
Angela Lau, head, Branding & Communications, AXA Life Insurance Singapore, said: "They’re not so confident about their health and career, and how they are going to cope with the challenges in life. For the career perspective, they are actually very concerned about job security.
"One in four is worried about whether they will have a job in the next year or so and in the next five years. That’s probably one of the reasons why they are not so optimistic about life at this juncture."
Ironically, Singaporeans also turned out to be the least affected by the economic turmoil, across the markets surveyed.
On how much they were impacted by the current economic crisis, Singaporeans rated six on a scale of one to ten — the lowest figure compared to their Asian counterparts.
The survey also showed that more than half of those polled planned to have children, and three in ten planned to have two or more children.
— CNA/so
We need to be stay positive and be strong in the current crisis! Do you agree?
- wong chee tat :)
Channel NewsAsia
Channel NewsAsia - Friday, April 3
SINGAPORE: Affluent Singaporeans are the most pessimistic in Asia when it comes to their future, according to a survey by life insurer AXA.
Eight Asian economies — China, Hong Kong, India, Indonesia, Malaysia, the Philippines, Thailand and Singapore — took part in the survey which was conducted between January and February.
The Philippines was ranked as the most upbeat, with a score of 84 on a scale of 100, followed by India’s 83.8 and China’s 66.9.
The survey polled 2,700 mass affluent residents between the ages of 25 and 50 on their views about life over the next five years. The study covered four aspects of life — career, retirement, family and health.
The 300 Singaporeans polled generally had the lowest scores in all four categories.
Angela Lau, head, Branding & Communications, AXA Life Insurance Singapore, said: "They’re not so confident about their health and career, and how they are going to cope with the challenges in life. For the career perspective, they are actually very concerned about job security.
"One in four is worried about whether they will have a job in the next year or so and in the next five years. That’s probably one of the reasons why they are not so optimistic about life at this juncture."
Ironically, Singaporeans also turned out to be the least affected by the economic turmoil, across the markets surveyed.
On how much they were impacted by the current economic crisis, Singaporeans rated six on a scale of one to ten — the lowest figure compared to their Asian counterparts.
The survey also showed that more than half of those polled planned to have children, and three in ten planned to have two or more children.
— CNA/so
We need to be stay positive and be strong in the current crisis! Do you agree?
- wong chee tat :)
US unemployment rate jumps to 8.5% in March
US unemployment rate jumps to 8.5% in March
WASHINGTON : The US unemployment rate leapt to a new 25-year high of 8.5 per cent in March as recession-battered employers shed another 663,000 jobs, the Labor Department reported on Friday.
The monthly snapshot of the labour market, seen as one of the best indicators of economic momentum, showed widespread losses across most sectors of the economy as the jobless rate rose from 8.1 per cent in February.
The figures failed to provide a clear signal that the US economy has hit bottom after the worst recession in decades, but some analysts said the data did appear to confirm some easing of the pace of economic decline.
Since the recession began in December 2007, a staggering 5.1 million jobs have been lost, with 3.3 million occurring in the past five months, the agency said.
The report was roughly in line with forecasts from private economists, who on average had expected 658,000 job losses and an unemployment rate of 8.5 per cent.
The jobless rate is the highest since November 1983.
The weak labour market offered a clouded outlook for what some analysts say is a "bottom" for an economy ravaged by a housing meltdown that has hammered the banking sector and squeezed credit.
"The losses continue to be severe but we do see, and I think the market sees, some apparent peaking in the rate of decline, and that stabilisation is providing a little bit of cheer to the market," said Peter Kretzmer, senior economist at Bank of America.
"We've moved to a different phase of the business cycle," he said, with consumer spending steadying but companies still cutting investment and inventories.
This suggests "several more months of severe declines before things start to improve," Kretzmer said.
Revised data showed January job losses rose to 741,000, from an earlier estimate of 655,000 lost. The loss for February remained unchanged at 651,000.
Some said the markets were bracing for a potentially worse report.
"We were braced for a reading of 720,000 before expecting the 'freak-out' button to get hit," said Jon Ogg at 24/7 Wall Street.
"All we can hope is that the slowdown in firings starts to come into play if things in the economy start to see drops that are not as bad as the Depression-trade was indicating just a month ago."
The total number of unemployed rose to 13.2 million in March, with the number of long-term unemployed - jobless for 27 weeks or more - rising to 3.2 million.
In March, the goods-producing sector lost 305,000 jobs including 161,000 in manufacturing and 126,000 in construction.
The service sector, which provides the majority of US jobs, shed 358,000 positions including 43,000 in the financial sector.
The only sector to add employment was education and health care, up 8,000, while government employment fell by 5,000.
The average work week contracted to 33.2 hours from 33.3 hours, which analysts said could mean lower production and income, hurting the economy.
The US economy contracted at a steep 6.3 per cent pace in the fourth quarter as the recession deepened. The government will estimate first-quarter gross domestic product later this month.
Julia Coronado, economist at Barclays Capital, called Friday's report "uniformly weak, with sizable job losses across all sectors".
Coronado is forecasting a 5.5 per cent drop in US output in the first quarter of 2009. But she said the latest data shows an 8.7 per cent quarterly drop in total hours worked, which she said offers a good proxy for economic output.
"So there is a risk (first-quarter GDP) could be worse," she said.
- AFP/ms
WASHINGTON : The US unemployment rate leapt to a new 25-year high of 8.5 per cent in March as recession-battered employers shed another 663,000 jobs, the Labor Department reported on Friday.
The monthly snapshot of the labour market, seen as one of the best indicators of economic momentum, showed widespread losses across most sectors of the economy as the jobless rate rose from 8.1 per cent in February.
The figures failed to provide a clear signal that the US economy has hit bottom after the worst recession in decades, but some analysts said the data did appear to confirm some easing of the pace of economic decline.
Since the recession began in December 2007, a staggering 5.1 million jobs have been lost, with 3.3 million occurring in the past five months, the agency said.
The report was roughly in line with forecasts from private economists, who on average had expected 658,000 job losses and an unemployment rate of 8.5 per cent.
The jobless rate is the highest since November 1983.
The weak labour market offered a clouded outlook for what some analysts say is a "bottom" for an economy ravaged by a housing meltdown that has hammered the banking sector and squeezed credit.
"The losses continue to be severe but we do see, and I think the market sees, some apparent peaking in the rate of decline, and that stabilisation is providing a little bit of cheer to the market," said Peter Kretzmer, senior economist at Bank of America.
"We've moved to a different phase of the business cycle," he said, with consumer spending steadying but companies still cutting investment and inventories.
This suggests "several more months of severe declines before things start to improve," Kretzmer said.
Revised data showed January job losses rose to 741,000, from an earlier estimate of 655,000 lost. The loss for February remained unchanged at 651,000.
Some said the markets were bracing for a potentially worse report.
"We were braced for a reading of 720,000 before expecting the 'freak-out' button to get hit," said Jon Ogg at 24/7 Wall Street.
"All we can hope is that the slowdown in firings starts to come into play if things in the economy start to see drops that are not as bad as the Depression-trade was indicating just a month ago."
The total number of unemployed rose to 13.2 million in March, with the number of long-term unemployed - jobless for 27 weeks or more - rising to 3.2 million.
In March, the goods-producing sector lost 305,000 jobs including 161,000 in manufacturing and 126,000 in construction.
The service sector, which provides the majority of US jobs, shed 358,000 positions including 43,000 in the financial sector.
The only sector to add employment was education and health care, up 8,000, while government employment fell by 5,000.
The average work week contracted to 33.2 hours from 33.3 hours, which analysts said could mean lower production and income, hurting the economy.
The US economy contracted at a steep 6.3 per cent pace in the fourth quarter as the recession deepened. The government will estimate first-quarter gross domestic product later this month.
Julia Coronado, economist at Barclays Capital, called Friday's report "uniformly weak, with sizable job losses across all sectors".
Coronado is forecasting a 5.5 per cent drop in US output in the first quarter of 2009. But she said the latest data shows an 8.7 per cent quarterly drop in total hours worked, which she said offers a good proxy for economic output.
"So there is a risk (first-quarter GDP) could be worse," she said.
- AFP/ms
Relaxing Music
Here are some of the relaxing music from youtube and at times like this , listening to relaxing music can help to de-stress and calm the mind.
- wong chee tat :)
- wong chee tat :)
12 Days of Exams.... ?????
I guess many studying in the course here already knew that exam is coming and is less than 2 weeks time.
Suddenly, I remembered this:
Well, how about 12 days of exams?
What would your true love give you for the 12 days of exams? =D
- wong chee tat :)
Suddenly, I remembered this:
Well, how about 12 days of exams?
What would your true love give you for the 12 days of exams? =D
- wong chee tat :)
Busy April
I have not blogged anything in April because I am busy with my course work.I intended to blog something on April's Fools Day but I can't afford the spare time to do so.
I am currently rushing to finish the optical report and studying for the upcoming quiz.
By the way, exams in less than 2 weeks time!
- wong chee tat :)
I am currently rushing to finish the optical report and studying for the upcoming quiz.
By the way, exams in less than 2 weeks time!
- wong chee tat :)
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