Globalisation's impact on Singapore
Employment – Exploring how Globalisation has led to an influx of immigrant workers and its impact on Singapore
Globalisation describes the increased flow of goods, services, capital, labour, technology, ideas and information across national boundaries. Local, national, regional and global elements are connected, resulting in a cross-influencing and an inter-dependent world. I will be focusing on the aspect of the flow of labour, and exploring the impact it has made on Singapore.
In light of globalisation, Singapore has received an influx of immigrant workers, but this has compromised the jobs of many Singaporeans. It has not only affected the jobs of workers in the hotel and restaurant business, but even those in the business sector, who are highly educated with the highest qualifications and possess high degrees such as the masters degree.
The prevalence of globalisation has caused employers to push wages down due to the influx of foreign workers competing for jobs with the locals. As wages offered by employers follow the supply and demand dynamics, the more choices an employer has the less he will offer to a willing worker. The employee that is willing to accept a lower salary will secure the job which results in a wage depression. The wages of workers employed in the hotel and restaurant business decreased from $1,585 in the first quarter of 2010 to $1,451 in the second quarter. This is just one of the sectors which have experienced a decrease in wages. Other sectors include manufacturing, construction and services.
The government also warmly welcomes migrant workers. The migrant workers are vital in ensuring Singapore’s continued progress and development. The government has repeatedly assured the population that allowing in more foreigners can only work in Singapore’s favour as more jobs will be created for the locals. “Without the inflow of foreign talents, our economy will eventually lose its vibrancy which can result to fewer opportunities to
Globalisation describes the increased flow of goods, services, capital, labour, technology, ideas and information across national boundaries. Local, national, regional and global elements are connected, resulting in a cross-influencing and an inter-dependent world. I will be focusing on the aspect of the flow of labour, and exploring the impact it has made on Singapore.
In light of globalisation, Singapore has received an influx of immigrant workers, but this has compromised the jobs of many Singaporeans. It has not only affected the jobs of workers in the hotel and restaurant business, but even those in the business sector, who are highly educated with the highest qualifications and possess high degrees such as the masters degree.
The prevalence of globalisation has caused employers to push wages down due to the influx of foreign workers competing for jobs with the locals. As wages offered by employers follow the supply and demand dynamics, the more choices an employer has the less he will offer to a willing worker. The employee that is willing to accept a lower salary will secure the job which results in a wage depression. The wages of workers employed in the hotel and restaurant business decreased from $1,585 in the first quarter of 2010 to $1,451 in the second quarter. This is just one of the sectors which have experienced a decrease in wages. Other sectors include manufacturing, construction and services.
The government also warmly welcomes migrant workers. The migrant workers are vital in ensuring Singapore’s continued progress and development. The government has repeatedly assured the population that allowing in more foreigners can only work in Singapore’s favour as more jobs will be created for the locals. “Without the inflow of foreign talents, our economy will eventually lose its vibrancy which can result to fewer opportunities to
References: 3 groups of foreign workers welcome. (2013, February 1). Asiaone. Retrieved May 20, 2013, from http://www.asiaone.com/News/Latest%2BNews/Singapore/Story/A1Story20130201-399355.html Lok, C Low, A. (2012, December 13). Re-examining our attitudes towards foreign workers | Views | Singapolitics.Singapolitics. Retrieved May 20, 2013, from http://www.singapolitics.sg/views/re-examining-our-attitudes-towards-foreign-workers Neubronner, E