Assalammualaikum, my dear blogreaders. I hope all of you are in the pink of health. As promised in my previous blogpost, I'll be sharing on current issues which has repercussions on a world perspective, country perspective, company perspective and individual perspective. The topic I'm covering will be quite a big topic which will be spread into a series of blogpost which I am still preparing.

First and foremost, I hope all of you know what is a Recession.

Recession: The act of receding/withdrawing. A period of economic contraction, sometimes limited in scope or duration. (Dictionary.com)

Global Recession: An extended period of decline around the world. (Investopedia.com)

Signs of Recession:
1) High unemployment rate: Rose from 2.7% to 3.0% (Based from: Statistics done by MOM: Resident Unemployment Rate)
-More companies retrench staffs, in order to cut cost.
-High number of graduates but low employment rate.

2) Retail not doing well:
-More people are well-aware with the current economy, thus deciding to cut down on shopping spree.

3) High Supply of Condominiums/Executive Condominium, But Low Demand

4) Business/Companies using Cost-Cutting method to sustain the business/company.

There sure are other signs of recession occuring. But let's just keep this simple.

We shall continue about the Repercussions of Recession on the Economy from both the Macro and Micro perspective in my next blogpost.

Article for Read-Ups:
1) Singapore's downturn? Here's the list of companies cutting jobs over the past few months.
2) Unemployment rises among Singapore citizens, residents in Q2.