Middle class in Singapore 'feeling more insecure'

Middle class in Singapore 'feeling more insecure'

                                         They fear rising costs, loss of jobs amid widening income gap

The sense of security typically associated with being middle-class has given way to anxiety among such Singaporeans, as technology and globalisation widen income gaps and take away jobs, academics said at a forum yesterday. "When we think about the middle class, we think of security, comfort and social mobility. But all these are sort of in decline," said National University of Singapore (NUS) sociologist Tan Ern Ser at the forum, which focused on the state of Singapore's middle class. Exacerbating the anxiety is the rise in living costs, which has led to many middle-income Singaporeans - broadly defined as the middle 60 per cent of income earners here - no longer being able to afford what they think they deserve.

While the Government has stepped up social support measures, these are mainly targeted at the lower-income groups and the middle class may feel squeezed with nowhere to turn to for help, said Dr Tan.

Source:  http://www.straitstimes.com/news/singapore/more-singapore-stories/story/middle-class-singapore-feeling-more-insecure-20141129?page=1#sthash.GlNoIBJ8.dpuf