There have been some signs of economic recovery. Following quarterly declines of 9.5% and 3.2% in the first and second quarter 2009 respectively, GDP growth is projected to grow by 0.8% for the 3rd quarter. MTI has also upgraded the economic forecast to minus 2.5% to minus 2.0% from minus 4% to minus 6%. The tripartite parties have met and decided to issue an advisory to help employers manage manpower challenges in a recovery and wage pressures in the short term.
This advisory should be read in conjunction with the NWC Guidelines for 2009/2010
(released on 3 June 2009) and the Revised Tripartite Guidelines on Managing Excess Manpower
(revised on 17 May 2009).
for the Tripartite Advisory on Managing Manpower Challenges for Enhanced Competitiveness and Sustainability.
If you have any queries, please contact your SNEF IR consultant at Tel: 6327 9297 or email to firstname.lastname@example.org.