A brief look at the jobs market, and something for 2009

"MANILA, Philippines - More than half a million overseas Filipino workers (OFWs) in at least six countries are at risk of losing their jobs, data from the Department of Labor and Employment (DoLE) indicated. An estimated 575,000 OFWs may soon join the ranks of the unemployed as the global credit crunch cuts demand for goods and services, prompting companies to reduce jobs just to stay afloat."

If the pinoys are in trouble then we Shwe's, are bound to be in a worse situation, could there be a huge reverse migration of overseas Myanmar workers (OMWs) going the same way as the Filipino?

Maybe not, (cause I don't wanna go home, haven't made my fortune yet!) and maybe its because that we are more willing to accept pay cuts and other stuff like that to stay afloat.

Well, I talked a bank executive (deputy CEO level) yesterday and he says that although 2009 is going to be a hard year, it will NOT be so bad, couse there are now so many smart investors who wil take advantage of this situation to snatch up real estate and under valued stocks. affiliated marketing
So this means that the economic boom coming right after this recession is going to be one for the history books.
So my advise would be to upgrade yourselves skills-wise so that you that you can compete for higher value jobs. There's going to be a lot of millionaires who will want to hired good help!

Slower Pay Raises in 2009

The pay raises will be lower next year in Singapore, that’s the sort of news that is in the newspaper this morning.
So who’s complaining, after all the weeks of the headlines saying that most of the global economy is in a recession, people should be happy that there is still some sort of pay raise coming anyhow. They Strait Times quote “on average, base-salary increments will drop from 5.1 per cent this year to 4.2 per cent next year”. Ok now, that might now cause a major disruption in the 25 year financial plans of most people. For those that have such plans! (One, perhaps in a few thousand?).

And recovery will only start in the first and second quarters of next year! That doesn’t sound so bad for me.
The fact is that it always depends on the market characteristics of the sort of job that you have at the moment. If it is the sort of industry that can be put off for a while, say like IT ("let’s change the computers next year, instead of December!" as planned) then things are going to be slow, but certain jobs will never be hurt (to a certain degree), or hurt last, that is the jobs that actually bring in the revenue, like marketing or sales. There are companies that are willing to pay top dollar for people with such caliber.
So pay raise slowing down? Come on! and get us some other news?