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This drove Singapore into a quick recovery from the recession. During this period, a flexible wage system was introduced by the NTUC with full support from the labour movement. In 1990, the Singapore Institute of Labour Studies (SILS) was set up dedicating Singapore's desire to have a labour college.
Employment Data. Employment level in Singapore has been constantly increasing each year in the past decade, as reported in 2015. [7] Latest employment level as of 3rd quarter of 2015 was reported at 3.640 million, with gains led by the Services sector. In the first three quarters of 2015, total employment level grew by 16,200.
The United States entered a recession in 1990, which lasted 8 months through March 1991. [ 1] Although the recession was mild relative to other post-war recessions, [ 2] it was characterized by a sluggish employment recovery, most commonly referred to as a jobless recovery.
The role of foreign trade under the economic reforms increased far beyond its importance in any previous period. Before the reform period, the combined value of imports and exports had seldom exceeded 10 percent of national income. In 1969 it was 15 percent, in 1984 it was 21 percent, and in 1986 it reached 35 percent.
An economic recovery is the phase of the business cycle following a recession. The overall business outlook for an industry looks optimistic during the economic recovery phase. During the recovery period, the economy goes through a process of economic adaptation and change to new circumstances, including the reasons that caused the recession in ...
The 1973–1975 recession or 1970s recession was a period of economic stagnation in much of the Western world during the 1970s, putting an end to the overall post–World War II economic expansion. It differed from many previous recessions by involving stagflation, in which high unemployment and high inflation existed simultaneously.
The COVID-19 recession, also known as the Great Lockdown, was a global economic recession caused by COVID-19 lockdowns. The recession began in most countries in February 2020. After a year of global economic slowdown that saw stagnation of economic growth and consumer activity, the COVID-19 lockdowns and other precautions taken in early 2020 ...
Immigration to Singapore is the process by which people migrate to Singapore for the purpose of residing there—and where a majority go on to become permanent residents and Singaporean citizens. Singapore is an attractive destination especially in the region as it is a country with a strong currency that offers high living standards, including ...