I still remember previously, whenever the economy is in the doldrums, my collection of red packets can drop as much as 50% as compared to the times where the economy is booming. I guess this year will be another year which my collection is likely to drop drastically. However, the festive season is not over yet so I do hope that I can still collect quite a bit during this period.
Monday, January 26
Red packet and Economy
Posted by
Kay
at
Monday, January 26, 2009
One thing that is associated with the Lunar Chinese New Year will definitely be red packets or ang pows. The amount of red packet that we will collect during this festive season is a unique indicator of how the economy has affected the man on the street. Red packets are usually given by married couples who usually have some sort of earning power, be it as an employee or an employer. Since the Chinese New Year is very close to the period which the variable bonus and the annual wage supplement will be given i.e. end of last year, the amount of red packet that one has collected can indicate the severity of this recession since they will likely be using part of their bonus for the expenses incurred during this period. If the amount of bonus for those who are giving red packets is very little or for the worst case scenario, those who are giving red packets are retrenched , you can expect that the average rate for each red packet is likely to be very low.
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