A January survey found that almost one-third of workers in Singapore feel they need to combine a full-time job with freelance work or another source of income in order to survive. (EPA Images pic)SINGAPORE: By day, Adele Lee juggles schedules and administrative work as a personal assistant to a senior director at a financial advisory firm. Three evenings a week, the 32-year-old logs back on, this time to sell second-hand clothes through TikTok livestreams, fielding questions from viewers and packing orders herself after the broadcast ends.The side hustle brings in about S$500 a month, supplementing her monthly salary of almost S$4,000.
The extra cash helps pay for her insurance premiums and dog’s expenses.“It feels good to have money coming in so I don’t have to worry about ‘Oh, I need to pay my bills’,” Lee said. It’s a “safety net” as living costs rise.While Singapore’s economy has remained resilient -- gross domestic product grew 5.7% in the second quarter and Thursday’s June inflation print was weaker than forecast -- strong headline indicators have done little to dispel anxiety among its young workers.The city-state’s economy is largely centered around exactly the kind of employment artificial intelligence is beginning to transform. With such a heavy reliance on finance, wealth and other white-collar jobs, Singaporeans entering the workforce increasingly wonder what the embrace of AI means for them.
Families’ strong historic emphasis on academic achievement and professional credentials is only heightening that pressure.A January survey by Randstad Global found that almost one-third of workers in Singapore, routinely also ranked as one of the world’s most expensive cities, feel they need to combine a full-time job with freelance work or another source of income in order to survive.According to Barnabas Gan, group chief economist at RHB Bank Bhd., some firms in the island nation are more cautious about hiring as well due to the uncertain global outlook.“Reports of companies moving operations away from Singapore, mainly driven by rising costs and the need for larger manufacturing footprints, may be an early indicator that potential labour demand is weakening,” Gan said.Swedish fashion retailer H&M and bread maker Gardenia are among companies that have recently shifted parts of their regional operations from Singapore to Malaysia to save on expenses.That w…
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