Singapore’s Middle Class Under Tremendous Pressure
By Vince Law on 8 May 2012 10:26 AM in Singapore News | 0 Comments
Source: Yahoo.com.sg
Petaling Jaya (The Star/ANN) – Singapore’s P-MET (pronounced Pee-met) – the acronym for Professionals, Managers, Executives and Technicians, a flourishing group of people who make up 51 per cent of the workforce – is under stress.
Most are, of course, university graduates or diploma holders, whose numbers and role in society had steadily increased because of strong growth and people’s determination to get higher education.
In turn, it helped to shape Singapore into what it is – a rich, middle-class society.
The first blow was struck by the demise of the industrial era here as well as the emergence of competitive giants like China and India that pushed down wages everywhere.
Factories were closed or moved overseas and mass retrenchments followed, including executives and managers.
A series of downturns and recessions added to the toll. In 2008, for example, 43.3 per cent of retrenched Singaporeans were from … Read more




