Be well-informed and consider a wide range of sources when reading reports on economic analysis

Year: 2020

This post is written as a brief comment to three articles by the local mainstream media on Singapore’s labour market.

“FMG has long been critical of economic reporting by the local mainstream media. A comparison of headlines and content amongst CNA, the TODAY and the non-government owned The Edge is revealing.

The CNA economist desk reporter merely repeats verbatim the official press releases with no value-added analysis and with headlines which masks or play down the severity of the data.

TODAY does a better job of providing a degree of analysis but also frames headlines to massage the message but to its credit does not go overboard to obfuscation.

The Edge, in contrast, provides clear and crisp headlines which frame the issue concisely and its reporting is analytical not parroting and offers perspective on impacts.

This comparative analysis is not intended to be pejorative but to encourage Singaporeans to recourse to a wide range of sources to fully comprehend the complexity, intensity and scale of the economic challenges and not simply cherry-pick the most cheerful of reporting.

Do not place yourself into an echo chamber that fits a view of your convenience. The costs may be at best simply ignorance or at worst, ill-informed consumption, financing and career choices that carry long-tail risks.”

– Devadas Krishnadas