Singaporeans Feeling the Pressure: Cost Concerns Rise as Household Optimism and Government Ratings Weaken - Blackbox Research Study
- Written by: Telegraph Magazine
The Good Governance Meter, which aggregates public ratings of government performance across 26 community issues, fell four points to 69.
The survey of 1,533 Singapore citizens and permanent residents, conducted from 24–30 September, finds that half (50%) place cost of living among their two most important national and community issues, up from 41% in Q2. Confidence in Singapore's overall direction remains strong at 82%, although down from 87%.
Household Outlook Softens as Costs Bite
The financial outlook has weakened on several measures as questions of affordability once again rise to the surface:
- Family finances ahead: 51% expect to be better off in 12 months, down from 59% in Q2, while 21% expect to be worse off, up from 16%.
- Household progress: 46% feel financially better off than 12 months ago, down from 51% last quarter.
- National economic outlook: 30% expect conditions to worsen over the next 12 months, up from 23% in Q2.
The findings come amid higher household costs. August headline inflation was 2.3%, with electricity and gas prices 8.7% higher than a year earlier, reflecting the impact of elevated global energy prices.
"Recent global disruptions across key areas are starting to hit home hard," said David Black, Founder and CEO of Blackbox Research. "People experience the economy through their bills, their pay and their everyday spending. When everyday costs rise and the outlook at work feels less certain, positive national growth figures only offer so much reassurance."
Workplace Sentiment Weakens
Jobs and unemployment are a top-two concern for 21% of respondents, up from 18% in Q2.
Among employees, only 51% give a score of at least 8 out of 10 when asked whether they would recommend their organisation as a place to work, down 13 percentage points from 64% in Q2.
Official labour-market data released in September showed slower resident employment growth, rising retrenchments and fewer professional vacancies, while unemployment remained low. Concern about technological change was already evident in Q2, when 52% expressed concern about AI's impact on their career prospects.
Affordability and Fairness Weigh on Government Ratings
Government performance ratings declined across 20 of the 26 areas measured. Good or excellent ratings fell:
- Cost of living: from 51% to 42%.
- The gap between rich and poor: from 56% to 46%.
- Jobs and unemployment: from 62% to 56%.
"The Government faces a more demanding public mood," said Black. "Affordability pressures and uncertainty about future progress are resurfacing despite a solid macroeconomic backdrop. Confidence in Singapore's direction remains high. The balloon has not burst, but it has deflated."
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Blackbox Research
Headquartered in Singapore, Blackbox Research is Southeast Asia's leading decision intelligence provider, delivering decision science solutions and community-wide perspectives on contemporary problems and challenges. We work with businesses, governments, regulators and non-profit organisations. For more information, visit blackbox.com.sg
SensingSG is Singapore's only public quarterly survey tracking community sentiment, household finances and assessments of government performance, alongside rotating topical questions. National demographic quotas cover ethnicity, age, gender, housing type and region.
The data dashboard is public, free and can be accessed here.
