By: Gerald Goh
The fallout from the global recession of 2009 is still being felt in 2013. In fact, Singapore’s economy contracted 0.6 per cent on a year-on-year basis in the first quarter of this year, down from 1.5 per cent in the previous quarter in 2012.
With sluggish economic growth forecasted for many other countries around the world, jobseekers are thus eagerly awaiting a turnaround in global economic sentiment – anticipating a return to the days of plenty as bad debts are restructured, toxic assets purged and the unemployment rate falls.
Will this come to pass?