Quote:
Originally Posted by Unregistered
This is pretty depressing news, feel bad for fresh grads this year as they graduate into a recession. I read some articles saying those who grad into a recession tend to have permanent scarring..hopefully the civil service will readjust their pay when the pandemic is over.
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Do you realise our pay is made up of two component
1 is the fixed component 90%
Another is 10% variable component
If economy goes worse i think they might just say paycut 10% for all.
But will have implications if they do that to civil morale will be low, and reduce further aggregate demand.
Also historically govt can also reduce
cpf contribution but the fear is foreclosure when ppl cant pay their bank loan