REACH 474 - What are your views on the new policies to strengthen protection for platform workers?
(SK)
14 Jul 2023 (10am - 7pm)
REACH
14/07/2023, 10:26 am - +REACH: *Dear contributors,*
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Megan 😊
14/07/2023, 10:29 am - +REACH: 📢 *Topic*📢
On Wednesday (12 Jul), SMS Koh Poh Koon provided an update on the implementation details for new policies that would strengthen protections for platform workers.
The Government had in November 2022 set a target to implement the new measures from the second half of 2024, after it accepted recommendations made by an advisory committee looking into these issues.
💬 *What are your views on the new policies to strengthen protection for platform workers?*
The three areas are:
1⃣ *Better representation for platform workers*
The Ministry of Manpower accepted recommendations from the tripartite workgroup which said that workers’ interests could be championed by representative bodies with powers similar to trade unions.
This means that the more than 88,000 platform workers here can soon negotiate for better working conditions as a group, through representative bodies that are legally empowered and act almost like trade unions.
Like unions, these bodies will be able to sign legally binding collective agreements with platform operators on behalf of workers, to ensure accountability from the companies. There will also be a formal process to resolve collective disputes.
2⃣ *Work Injury Compensation*
For the purposes of Work Injury Compensation, platform workers will be considered to be “at work” when they are picking up and dropping off passengers or items. This includes when they are in the process of finishing a delivery, or getting to the place to pick up a passenger.
The compensation for income lost due to a work injury will be based on a platform worker’s average earnings in the relevant sector during the 90 days before the injury occurred.
3⃣ *CPF contributions*
The Government is working with platform companies to develop a simple-to-use collection mechanism to reduce the load on the companies and make it seamless for platform workers.
👉https://www.straitstimes.com/singapore/platform-workers-in-singapore-to-get-more-bargaining-power-better-representation
👉https://www.straitstimes.com/singapore/more-details-on-platform-worker-protections-revealed
14/07/2023, 10:32 am - ~ REACH Phone 2 changed the group description
14/07/2023, 10:32 am - ~ REACH Phone 2 changed this group's settings to allow all participants to send messages to this group
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14/07/2023, 10:46 am - +Smiley face: "Assurance: A delivery person especially in a bike or riding a motorbike or on foot; there should be protections for injuries, permanent disabilities or death. In the case of total disabilities due to work related accidents, it should be fair to compensate and equalise these accidents to death at the worksite or during delivery because of the total loss in future income or livelihoods of these unfortunate casualties of work. How to underwrite these risks and pool it as an assurance to all Platform workers, aka delivery personnel"
- - anonymity
14/07/2023, 10:48 am - +Smiley face: Cyclist, 18, killed in road accident in Yishun; tour bus driver arrested
https://www.straitstimes.com/singapore/cyclist-18-killed-in-road-accident-in-yishun-bus-driver-arrested
14/07/2023, 10:50 am - +Ah Heng: den what about turn the table around and have these platform workers also be responsible for causing accidents due to their actions?
14/07/2023, 10:59 am - +Rama: Long overdue. Cpf, workmen's compensation and insurance needed for them
14/07/2023, 11:05 am - +Smiley face: Ah Heng, Hi... good morning...
Insurance will compensate for this party...
Two way game.
The keypoint is to ensure these delivery personnel are WELL covered just in case...so that her/his dependents will not slump into financial difficulties and the endgame is poverty or worse and unimaginable...
"Only when one hit by a bullet, one will know the pain...?"
Thanks!
14/07/2023, 11:06 am - +Smiley face: Hi Andrew, good morning...
All you have mentioned are meaningful things!
Thanks.
14/07/2023, 11:09 am - +Ah Heng: but are most o fthem covered ? most as we see in social media just run away
14/07/2023, 11:09 am - +Ah Heng: and like rats they come out at night after work and wack havoc on roads
14/07/2023, 11:10 am - +Ah Heng: and if end in fatal accident again is the wheels that is usually at fault
14/07/2023, 11:10 am - +Ah Heng: make all road users be responsible with enforcement
14/07/2023, 11:27 am - +Smiley face: Justice and surveillance systems...
14/07/2023, 11:28 am - +Smiley face: 14 July, 2023
" The Wages, The Costs & The Means of living; the past, now, and the future of inflation."
"At the end of each day is to provide that bowl of rice on the dining table whether you are a big man, a small man or not...day after day, year in and year out; for your family, for your company and for your country...!"
- - anonymity
14/07/2023, 11:44 am - +Frankie Wee: Budget GST voucher cash payout COL support every year are permanent to all singaporean.
14/07/2023, 11:56 am - ☸️ Danny 心:
1. Platform workers are ad-hoc jobs and is often in a more disadvantage position when come to income earned from the platform operators.
2. It is a good idea to have a unified representation to represent their interest should there be any dispute with regards to remuneration.
3. Also introducing CPF to platform workers will ensure they have CPF for retirement as well as money to help in housing payment - just like any workers in Singapore.
4. As for workmen injury compensation, platform workers are always on the road.
Hence having a compensation scheme will provide protection and compensation to platform workers in the unfortunate event of work injuries.
5. These group of workers are subject to rain and shine doing donkey works to earn an income to sustain their family living.
They deserve a fair scheme to protect them - just like any other Singapore workers.
14/07/2023, 12:10 pm - ☸️ Danny 心:
6. A good policy to safeguard the interest of the platform workers.
14/07/2023, 12:16 pm - +KL: I think is perm as no one know when it will remove . <This message was edited>
14/07/2023, 12:19 pm - +Smiley face: https://youtu.be/AT9kAx8gstg
14/07/2023, 12:50 pm - ☸️ Danny 心:
"Gig workers ‘most financially stretched’ group in Singapore; spending exceeds income: DBS study
Savings for this group have dropped to “unhealthy levels” as spending exceeded take-home incomes, the annual study by the bank showed."
https://www.channelnewsasia.com/singapore/gig-workers-most-financially-stretched-spending-exceeding-income-dbs-3626161#:~:text=Gig%20workers%20%E2%80%98most,the%20bank%20showed.
14/07/2023, 1:26 pm - +REACH: *Dear Contributors*
We want to *HEAR MORE* from you on today’s topic!
💬 *What are your views on the new policies to strengthen protection for platform workers?*
Megan 😊
14/07/2023, 1:34 pm - ☸️ Danny 心:
1. Concerning about road safety for delivery workers, ramp up the building of cycling path in all the housing estates - will help to cut down delivery workers cycling on the road which is more dangerous as well as helping delivery workers from encroaching into pedestrian walkway - ensuring safety to pedestrians.
14/07/2023, 1:37 pm - +Rama: Surprised regular enforcement must be sustained too!
14/07/2023, 1:42 pm - ☸️ Danny 心:
Often during my regular brisk walk, I will encounter delivery workers cycling along the pedestrian walkway.
They will ring their bell if behind me, and I often step aside to let them passed - even though sometimes it alarm me when I was least expecting it - as I know they need to earn a living.
Sometimes, I just worry they ride a bit too fast for me to react.
If bang into one another, both will get injured.
Thus still feel that it is safer to have a dedicated cycling path and pedestrian path - to prevent encroaching into one another.
14/07/2023, 1:56 pm - ☸️ Danny 心:
With economic activities going down due to global slowdowns in trade and manufacturing activities, domestic construction activities - can help to boost our GDP growth.
Thought that by ramping up the building of cycling path within the housing estates - it will help to contribute to our economy - as part of infrastructure upgrading to promote domestic economic activities.
14/07/2023, 2:00 pm - +REACH: 📢 *Topic*📢
On Wednesday (12 Jul), SMS Koh Poh Koon provided an update on the implementation details for new policies that would strengthen protections for platform workers.
The Government had in November 2022 set a target to implement the new measures from the second half of 2024, after it accepted recommendations made by an advisory committee looking into these issues.
💬 *What are your views on the new policies to strengthen protection for platform workers?*
The three areas are:
1⃣ *Better representation for platform workers*
The Ministry of Manpower accepted recommendations from the tripartite workgroup which said that workers’ interests could be championed by representative bodies with powers similar to trade unions.
This means that the more than 88,000 platform workers here can soon negotiate for better working conditions as a group, through representative bodies that are legally empowered and act almost like trade unions.
Like unions, these bodies will be able to sign legally binding collective agreements with platform operators on behalf of workers, to ensure accountability from the companies. There will also be a formal process to resolve collective disputes.
2⃣ *Work Injury Compensation*
For the purposes of Work Injury Compensation, platform workers will be considered to be “at work” when they are picking up and dropping off passengers or items. This includes when they are in the process of finishing a delivery, or getting to the place to pick up a passenger.
The compensation for income lost due to a work injury will be based on a platform worker’s average earnings in the relevant sector during the 90 days before the injury occurred.
3⃣ *CPF contributions*
The Government is working with platform companies to develop a simple-to-use collection mechanism to reduce the load on the companies and make it seamless for platform workers.
👉https://www.straitstimes.com/singapore/platform-workers-in-singapore-to-get-more-bargaining-power-better-representation
👉https://www.straitstimes.com/singapore/more-details-on-platform-worker-protections-revealed
14/07/2023, 2:08 pm - ☸️ Danny 心:
To finance the building of cycling path in each housing estates, tapping into the ever growing Coe revenue collected should be a viable funding source.
As Coe is helping to fulfill the vision of car lite.
Building cycling path is part of a car lite Infrastructure.
14/07/2023, 2:13 pm - ☸️ Danny 心:
However, deeper study must be made on PMA and powered assisted bike - that make use of lithium battery.
Many cases of HDB flats fire are triggered by charging of such lithium batteries power assisted bikes - that can easily catch fire when charging.
Wonder any other safer alternative batteries that don't catch fire other than lithium batteries?
14/07/2023, 2:33 pm - ☸️ Danny 心:
Thought that the priority of building the cycling path should be with the housing estates - instead of more remote areas - as the usage is higher within the housing estates - with more pedestrian volume and more people cycling especially delivery workers who need to deliver food and goods to people staying in the housing estates.
14/07/2023, 2:48 pm - +Smiley face: One thing to watch out for is workers who are 40 years and older who are non-degree holders, have changed jobs in the last 12 months...
14/07/2023, 3:06 pm - +Rama: Yes
14/07/2023, 3:09 pm - +Smiley face: ...Should the current geopolitics persist on, to include all sciences and the technologies under this madness of you vs me vs others; the world will be almost done and how should countries like SG weather through the perfect storm? Perhaps, it will be tougher but there are ways to skit through...let's think deeper for solutions to secure our rice bowl!...
14/07/2023, 3:12 pm - +Smiley face: By decreasing our risks and restructure our pillars of stability from the tangibles to the intangibles, no short cuts! What is risk and what are the stable pointers?...
14/07/2023, 3:35 pm - +~L: Poor quality wiring and other factors are the problem.
14/07/2023, 3:50 pm - +Rama: 👍
14/07/2023, 3:55 pm - ☸️ Danny 心:
All add up, become a moving firebomb.
One guy with his pmd in a lift can even catch fire without charging.
Pmd with lithium battery quite dangerous.
So many fire incidents are due to lithium battery charging at home.
14/07/2023, 4:01 pm - +REACH: 📢 *Topic*📢
On Wednesday (12 Jul), SMS Koh Poh Koon provided an update on the implementation details for new policies that would strengthen protections for platform workers.
The Government had in November 2022 set a target to implement the new measures from the second half of 2024, after it accepted recommendations made by an advisory committee looking into these issues.
💬 *What are your views on the new policies to strengthen protection for platform workers?*
The three areas are:
1⃣ *Better representation for platform workers*
The Ministry of Manpower accepted recommendations from the tripartite workgroup which said that workers’ interests could be championed by representative bodies with powers similar to trade unions.
This means that the more than 88,000 platform workers here can soon negotiate for better working conditions as a group, through representative bodies that are legally empowered and act almost like trade unions.
Like unions, these bodies will be able to sign legally binding collective agreements with platform operators on behalf of workers, to ensure accountability from the companies. There will also be a formal process to resolve collective disputes.
2⃣ *Work Injury Compensation*
For the purposes of Work Injury Compensation, platform workers will be considered to be “at work” when they are picking up and dropping off passengers or items. This includes when they are in the process of finishing a delivery, or getting to the place to pick up a passenger.
The compensation for income lost due to a work injury will be based on a platform worker’s average earnings in the relevant sector during the 90 days before the injury occurred.
3⃣ *CPF contributions*
The Government is working with platform companies to develop a simple-to-use collection mechanism to reduce the load on the companies and make it seamless for platform workers.
👉https://www.straitstimes.com/singapore/platform-workers-in-singapore-to-get-more-bargaining-power-better-representation
👉https://www.straitstimes.com/singapore/more-details-on-platform-worker-protections-revealed
14/07/2023, 4:06 pm - +Frankie Wee: I think it’s need to have license delivery foods. There will be more jam block-way and Some illegal deliveries. Without licensing how do the company claim compensation income lost when injury themselves.
14/07/2023, 4:09 pm - +Frankie Wee: https://youtube.com/shorts/iJRZ3Ge7IRw?feature=share
14/07/2023, 4:18 pm - +Elena Woo: Also when the platform workers reached retirement Age, their cpf monies usually are not enough to sustain their expenses as they can no longer work.
14/07/2023, 4:31 pm - +Bhavani: Hi I have encountered many platform and grab cyclists who care more about delivering food and other items fast and earning their livelihood than the safety of pedestrians. They speed without a care or concern towards pedestrians. Even if there are dual cycling cum pedestrian paths, they encroach on the pedestrian path speedily, and at the last minute, switch to the cycling path. It is a torture to walk for all pedestrians especially the elderly and the disabled as they have poor reflexes and cannot avoid cyclists in time. School children are also at high risk of being hit by these inconsiderate cyclists. It is so difficult to walk to shops to buy groceries as these platform riders keep weaving through void decks suddenly out of nowhere. Walking on pedestrian paths is also a terrible, extremely scary ordeal due to these errant riders. Even if a bicycle rider travels slowly, he can still lose control and hit the pedestrian on the back. The pain from being hit by a bicycle is unbearable. Once a bicycle was travelling behind me. Then the bicycle rider scrapped past me hitting me in the back with his front wheel. Although he was not speeding, the bicycle hit was excruciatingly painful. Instead of food delivery jobs, platform riders could be given environmental jobs to protect our greenery instead.
14/07/2023, 4:32 pm - +Rama: Loophole!
14/07/2023, 4:33 pm - +Rama: Enforcement too laxed!
14/07/2023, 4:33 pm - +Rama: Agree
14/07/2023, 4:34 pm - +Frankie Wee: Human do burden than skill learning
I may not take bicycle 🚲 riding delivery day and night time.
14/07/2023, 4:35 pm - +KL: They did do a good job during covid la
14/07/2023, 4:35 pm - +Rama: No doubt
14/07/2023, 4:35 pm - +KL: Without them u can’t deliver essential goods when quarantine how could ppl so fast forgot about they contribution do note intially they playing with their life’s when no cure or vaccine are found
14/07/2023, 4:37 pm - +Rama: Also true
14/07/2023, 4:37 pm - +KL: The fact they not well pay and their voice are not heard cos mostly not here <This message was edited>
14/07/2023, 4:38 pm - +KL: Or anywhere
14/07/2023, 4:38 pm - +Rama: Sad
14/07/2023, 4:38 pm - +KL: Wait 8000 don’t deliver food than u know lol
14/07/2023, 4:39 pm - +KL: Frankly only the well to do call food right when the diff can be 1 to 2 dollar <This message was edited>
14/07/2023, 4:40 pm - +KL: A lot delivery i realised is non local
14/07/2023, 4:41 pm - +Rama: Moonlighting or with permit!?
14/07/2023, 4:41 pm - +KL: How do i know cos nearby 2 out of 4 apartment is rented mainly to non local all got ebike <This message was edited>
14/07/2023, 4:41 pm - +KL: With panda and grab , I think legal maybe PR as I not police to check on them
14/07/2023, 4:42 pm - +Ah Heng: some of these msian cross over do grab also
14/07/2023, 4:42 pm - +Ah Heng: what can our lta go
14/07/2023, 4:43 pm - +KL: I thgt under MOM ? Got anything do with LTA ?
14/07/2023, 4:43 pm - +Ah Heng: they even tout at attraction place or do booking to do crossing to msia services
14/07/2023, 4:43 pm - +Ah Heng: they drive their vehicle in to do delivery
14/07/2023, 4:44 pm - +Ah Heng: think last time mcdonalds got caught up in such situation thus hardly see msian bikes doing McDonalds or kfc delivery for the longest time
14/07/2023, 5:05 pm - +Rama: CPIB probe involving Iswaran a blow to Govt; important how it is managed: Political observers
SINGAPORE - The reputation of the People’s Action Party (PAP) and Government has been dealt a blow by the corruption probe involving Transport Minister S.Iswaran, especially since they have always prided themselves on their integrity and probity, observers said.
https://news.nestia.com/detail_share/11288749?media_type=1&invite_code=000562032624&nestiaShareChannel=whatsapp
14/07/2023, 5:37 pm - +Dan: Not only to ensure safety of the workers but also make their living condition and transport to workplace more humane. Pick-up and lorry trucks should not be used to ferry workers to work. There should be a shelter to shield them from rain or direct sunlight for the journey. Cost- cutting in these areas for optimal profiteering is inhumane and should be curbed.
14/07/2023, 5:56 pm - ☸️ Danny 心: <Media omitted>
14/07/2023, 5:56 pm - ☸️ Danny 心: <Media omitted>
14/07/2023, 5:56 pm - ☸️ Danny 心: <Media omitted>
14/07/2023, 5:58 pm - ☸️ Danny 心:
There are currently safer alternative batteries to lithium batteries.
Whether will there be government push to replace lithium batteries with safer alternatives for pmd and pma?
14/07/2023, 6:00 pm - +Rama: I hope so
14/07/2023, 6:03 pm - +REACH: 📢 *Topic*📢
On Wednesday (12 Jul), SMS Koh Poh Koon provided an update on the implementation details for new policies that would strengthen protections for platform workers.
The Government had in November 2022 set a target to implement the new measures from the second half of 2024, after it accepted recommendations made by an advisory committee looking into these issues.
💬 *What are your views on the new policies to strengthen protection for platform workers?*
The three areas are:
1⃣ *Better representation for platform workers*
The Ministry of Manpower accepted recommendations from the tripartite workgroup which said that workers’ interests could be championed by representative bodies with powers similar to trade unions.
This means that the more than 88,000 platform workers here can soon negotiate for better working conditions as a group, through representative bodies that are legally empowered and act almost like trade unions.
Like unions, these bodies will be able to sign legally binding collective agreements with platform operators on behalf of workers, to ensure accountability from the companies. There will also be a formal process to resolve collective disputes.
2⃣ *Work Injury Compensation*
For the purposes of Work Injury Compensation, platform workers will be considered to be “at work” when they are picking up and dropping off passengers or items. This includes when they are in the process of finishing a delivery, or getting to the place to pick up a passenger.
The compensation for income lost due to a work injury will be based on a platform worker’s average earnings in the relevant sector during the 90 days before the injury occurred.
3⃣ *CPF contributions*
The Government is working with platform companies to develop a simple-to-use collection mechanism to reduce the load on the companies and make it seamless for platform workers.
👉https://www.straitstimes.com/singapore/platform-workers-in-singapore-to-get-more-bargaining-power-better-representation
👉https://www.straitstimes.com/singapore/more-details-on-platform-worker-protections-revealed
14/07/2023, 6:11 pm - ☸️ Danny 心:
The same can apply to handphone batteries and power chargers that run on lithium battery.
14/07/2023, 6:11 pm - +Rama: Yes
14/07/2023, 6:13 pm - ☸️ Danny 心:
Not only pmd with lithium batteries cause danger to them.
The handphone and portable charger with lithium batteries also cause danger if all ignite together.
14/07/2023, 6:13 pm - +Rama: Universal charger for all brand, make and models with a battery that lasts at least a week.
14/07/2023, 6:24 pm - +Smiley face: Ford, GM and Tesla have collaborated on this aspect of common parts to charge their EVs.
14/07/2023, 6:24 pm - +Rama: Great
14/07/2023, 6:25 pm - +Smiley face: The future is Sodium-ion battery technology...
Capacity, charging and discharging.
14/07/2023, 6:26 pm - +Smiley face: This message was deleted
14/07/2023, 6:26 pm - +Rama: Yeah
14/07/2023, 6:28 pm - +Redzuan: <Media omitted>
14/07/2023, 6:28 pm - +Smiley face: One problem with home fire from overcharging of electronic devices is the load factor at the premise and the device itself.
Laymen does not know the capacitor and how about the circuit breaker in case things went wrong!
It's too late, fire has started and electric fire is one H of a flame to contain unlike fire from fuel...
14/07/2023, 6:32 pm - +Smiley face: Ok, one thing is the list of critical minerals other than rare earth and lithium...
These big boys are Fighting all over to grab this list of critical minerals for EV, electronics and batteries m, etc of the future!
China may not hold a monopoly over this list, however, a few are in China's hand , not enough to create H...
In progress...
14/07/2023, 6:32 pm - +Rama: Agree
14/07/2023, 6:33 pm - +Smiley face: Our government stipulated by 2025 to install circuit breakers in every home or insurance may not insure homes that don't comply with this safety measure!
Simple measure yet millions took for granted!
14/07/2023, 6:34 pm - +Rama: I'm all for it!
14/07/2023, 6:34 pm - +Smiley face: Thank you for being rational... not all think like you, Andrew!
14/07/2023, 6:35 pm - +Rama: Most welcome
14/07/2023, 6:35 pm - +Smiley face: Laymen thinks that the government is still playing again...
14/07/2023, 6:36 pm - +Smiley face: Always do, Thanks!
14/07/2023, 6:36 pm - +Smiley face: Happening now, the unstable climate change from the north pole to the south pole and the third pole is the Himalayas, the shortage of supplies, the unstoppable war situations in Ukraine coupled with the recent acting up in the middle east region specifically Iran, Iraq, Israel, Sudan, and the hotter Taiwan Straits; all of these factors of fearfulness will burden the highly strung global complex relationships since the recovery from the Covid pandemic and an even higher probability of a massive and deepen recessions in Europe, US and Asia....
14/07/2023, 6:38 pm - +Rama: The world is in deep shit and mankind is not helping with wars, murders, rape, persecution, grievances, famine, droughts, discrimination, bull etc!
14/07/2023, 6:39 pm - +Smiley face: There is a possibility that selectively prices of goods will ease off that's deflation coupled with interventions of one currency against the others and the fiscal policies. The latest weakening of the US dollars is a first sign of a likely currency war in the formation...!
14/07/2023, 6:40 pm - +Smiley face: Tumbling US dollar a boon to risk assets across the globe
https://www.straitstimes.com/business/tumbling-us-dollar-a-boon-to-risk-assets-across-the-globe
14/07/2023, 6:41 pm - +Smiley face: Cross referencing the Asian currency crisis...it's worth re-reading this chapter of the past economics history!
14/07/2023, 6:42 pm - +Smiley face: Are wages eaten up by the rising costs of living especially those earning annual income of $40,000 or less; single breadwinner of a family of 5, with inflation going on and seems not cooling off faster. What is the disposable income for this sample family and how low is her or his current savings? It is worth thinking over and over again because a quarter of the workforce are earning this annual quantum of $40,000 or less?...
14/07/2023, 6:42 pm - +Rama: Definitely!
14/07/2023, 6:45 pm - +REACH: This message was deleted
14/07/2023, 6:45 pm - +REACH: *Dear Contributors,*
⏰ We will be closing the chat in *15 minutes* ⏰
Thank you very much for being part of our WhatsApp chat and participating actively.
Goodnight!
Megan 😊
14/07/2023, 6:46 pm - +Smiley face: If we believe that the lessons of the pandemic have taught us a few skit to mitigate and came out of the mess less worse off. Perhaps, applying what has happened in this pandemic that is the strong, the weak, the damaged and the dead into the coming uncertainties and hopefully, SG will emerge once again unharmed and most importantly, emerging a stronger and stable country! An exemplary of structure and form! "
- - anonymity
14/07/2023, 6:47 pm - +Rama: Nice
14/07/2023, 6:49 pm - +Smiley face: Let's re visit C19...there are valuable lessons to learn and to replicate in the order of restructuring our stability and eliminating as many risks as humanly possible... and remember, NEVER SAY NEVER, LOOK FOR THE IMPOSSIBLES AND MAKE IT POSSIBLE! That's a Champion!
14/07/2023, 6:51 pm - +Rama: A lot of changes have already taken place in businesses, people to people contact, interaction, f and b, medical, travel, work etc with more to come.
14/07/2023, 6:52 pm - +Smiley face: Relook to further secure...this coming rounds of the geo economics will be a different animal to handle!
14/07/2023, 6:52 pm - +Smiley face: When the tough gets goes, we go higher gear! Don't look back because that's history! We write our history and we chart our destiny!
14/07/2023, 6:53 pm - +Rama: We also learn from history to improve our future.
14/07/2023, 6:54 pm - +Smiley face: Yes sir, a reference point ..
14/07/2023, 6:54 pm - +Smiley face: 14 July, 2023
" The Wages, The Costs & The Means of living; the past, now, and the future of inflation."
"At the end of each day is to provide that bowl of rice on the dining table whether you are a big man, a small man or not...day after day, year in and year out; for your family, for your company and for your country...!"
- - anonymity
Soon we will face an unprecedented future at the renewed working place with a greater dependency on AI and the highest precision of automations to increase productivity and profits while reducing staffs count. These new efficient ways of working will cause up to 1 in 3 working adults loosing their jobs either permanently or in-between job, or go back to reskill or start learning a new skill to keep up with the future job requirements. One thing to watch out is workers who are 40 years and older, who are non-degree holders, have changed job in the last 12 months. This group of workers are likely to be layoff when a company balance sheets is underperforming YOY and or other uncertainties.
Should the current geopolitics persist on, to include all sciences and the technologies under this madness of you vs me vs others; the world will be almost done and how should countries like SG weather through the perfect storm? Perhaps, it will be tougher but there are ways to skit through...let's think deeper for solutions to secure our rice bowl! By decreasing our risks and reinforcing our pillars of stability from the tangibles to the intangibles, no short cuts! What is risk and what are the stable pointers?
Macro?
The rising cost of livings may persist into 2028. Rental is the next foretelling indicator of bad times, the short term economics and social impacts to watch for especially in a run off of the CPI in the next four quarters, rentals value of all properties will follow downwards and the valuations of these assets class may then find it new price equilibriums.
The general concept of equilibrium of things and money say, " it is an interdependent reaction on one part to the next fews and coupled with substitutes or complements". One drops and a few follow too; stagnation or stagflation or both converged into depression?
Micro?
Are wages eaten up by the rising costs of living especially those earning annual income of $40,000 or less; single breadwinner of a family of 5, with inflation going on and seems not cooling off faster. What is the disposable income for this sample family and how low is her or his current savings? It is worth thinking over and over again because a quarter of the workforce are earning this annual quantum of $40,000 or less?
How about workplace insurance coverage and compensation in the event of injuries or death for full/part timers during working hours? For part-timers no medical benefits such as maternity, parternity, hospitalisation or clinic visits? What are the existing regulations and are there needs to amend some regulations?
In simplest tone, yes, there are many people who are concerned over the future prices of public housing properties for their next generation.
Happening now, the unstable climate change from the north pole to the south pole and the third pole is the Himalayas, the shortage of supplies, the unstoppable war situations in Ukraine coupled with the recent acting up in the middle east region specifically Iran, Iraq, Israel, Sudan, and the hotter Taiwan Straits; all of these factors of fearfulness will burden the highly strung global complex relationships since the recovery from the Covid pandemic and an even higher probability of a massive and deepen recessions in Europe, US and Asia.
There is a possibility that selectively prices of goods will ease off that's deflation coupled with interventions of one currency against the others and the fiscal policies. The latest weakening of the US dollars is a first sign of a likely currency war in the formation...!
How about the US or China's internal economies, external debts and many unsolved problems?
The next four quarters, what will be the corporate America quarterly results likely be sustainable or on its way to a prolonged recession?
What's next?
https://www.straitstimes.com/business/tumbling-us-dollar-a-boon-to-risk-assets-across-the-globe
- - in progress - -
14/07/2023, 6:59 pm - +REACH: *Dear Contributors,*
We will be closing the chat for today.
Thank you very much for being part of our WhatsApp chat and participating actively.
Goodnight!
Megan 😊
14/07/2023, 7:00 pm - ~ REACH Singapore changed this group's settings to allow only admins to send messages to this group
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