Dear Mr. Tan
Without good paying jobs, consumption will suffer, which will cause even fewer jobs and less consumption:
http://money.cnn.com/2010/06/01/news/economy/contract_jobs/index.htm
JLN
My comment
I have observed this trend for some time. I agree with the findings. If workers do not have security of employment, things will continue to get worse.
How can top CEOs and bankers continue to make so much money, when other people in the economy suffer a drop in income? This is a consequence of our free market system. The solution is to get back to a more regulated economy - i.e. more regulation on terms of employments, hours of work, security of jobs, fair compensation and other factors.
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