Another interesting little tidbit.
In 07-08, during the economic crisis, total unemployment rate rose from 2.1-2.2%, change of 0.1%.
Umemployment rate among residents increase from 3.0-3.2%, change of 0.2%.
In other words, the proportion of jobs loss among residents is higher than the total average. So what is the proportion of jobs loss for foreigners to bring the national average down to 0.1%? Definitely has to be lower than 0.2%.
Which means the idea of using foreign labour as a buffer probably isn't working.
By the way, residents = singaporeans + pr. Means permanent residents, you are screwed too.