Unemployment in Singapore: Recession Needs Innovation

Topics: Unemployment, Recession, Economics Pages: 11 (2862 words) Published: September 28, 2010



AUSM70 Business Research Proposal


STUDENT NAME: Lavanya D/O Elavarasan
LECTURER: Lakshmi Thambiayya

Declaration of originality

This is to certify that the work is entirely my own and not of any other person, unless explicitly acknowledged (including citation of published and unpublished sources). The work has not previously been submitted in any form to the Manchester Metropolitan University or to any other institution for assessment for any other purpose.

Signed _________________________________________________

Date ___________________________________________________


Recession and Innovation are something that is interdependent on each other. Recession is the key for innovation in certain fields of business environment. As and when the global business or global market develops or changes we need to update our business by using our innovative ideas with the previous down turns in the field. Each and every failure or downfall makes us to remodel the existing proposal or develop a new idea in the field of business. In this research it is more about the Singapore economy and the challenges faced during recession. The focus is on the employment issues and the difficulties undergone during recession. Unemployment is the major concern for any economy since it affects the GDP of the entire country which indirectly affects the countries development and growth. In the research we will provide the innovative ideas to increase the employment rate in Singapore economy.

Word Count

Number of Pages: 15
Number of Words: 2030

- Exclude cover page
- Exclude headings and sub headings
- Exclude Reference list and citations
- Exclude abstraction
- Exclude diagrams and tables

Table of Contents

1.1: Study Background6
1.2: Study Area6
1.3: Dissertation Structure7
1.4: Aim and Objectives7
2.1: Introduction9
2.2: 9
2.3: ..................................................................................10 2.4: .............................................................10 2.5: 12
3.0: Conclusions12



1.1: Study Background

The Singapore economy is under a serious problem due to recession in the recent years. The GDP growth of the country is falling down sharply because of depression in the global market. Now it is slowly recovering from this crisis but gradual increase in unemployment rate is the major issue caused due to this recession till date. According to the Ministry of Manpower the overall percentage of the unemployment rate in the year 2007 was 2.1% and for the residents it was 3.0% which was increased 3.3% for the overall and 4.8% in 2009. Now currently it is reducing at a slow rate and it is 2.2% overall and 3.2% for residents. But still for a developed and small nation like Singapore the employment rate is still less compared to other countries in the world. Innovative ideas are required for the development of job opportunities in the economy for the welfare of the individuals. In this research the innovative ideas to improve the employment rate is explained in detail. The purpose of the research is to maintain the standard of living and develop the employment standards during recession by innovative thoughts.

1.2: Study Area

Singapore is a beautiful, pleasant and a safe place for any race or any people to live. Under the British trading colony Singapore was found in 1918, which joined the Malaysian Federation in the year 1963 and it achieved independence in 1965(Central Intelligent Agency(CIA) 2010). The land area of this nation is 710.2 km2 with varied kinds of folks from different parts of Asia. Economy of Singapore is one of the most open and friendly...
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