Don't expect any pay rise
Of course this statement is meant only for the workers. All the rosy pictures painted a few months back, golden years, full employment, needing more foreign workers and talents in a tight job market, employers paying extraordinary salaries to compete for talents (this is still true if we read how SMU fresh graduates are being paid $10K pm), job applicants can pick and choose their jobs, all these are no more. Despite the runaway cost of living, there will be no huge pay increases to soften the impact. But have no worry, the govt will be there to help. If the govt can afford to give another few hundred thousand dollars to raise the salary of underpaid ministers to market level, they will definitely be able to give another few hundred dollars to the poorer Singaporeans. It is not that bad after all. Employers don't pay more, there is the govt to back up. I don't think there will be another round of retrenchment or get rid of the oldies. Then again oldies can look forward to cleaning tables and washing plates in food courts. And they are all very happy doing that in their golden years. They have been interviewed and they have expressed their happiness to have a job and an income. I think the retirement age for such jobs will be raised to 80.