It's Good To Be Optimistic, But It's Bad to be Stupid

I feel that the Straits Times is trying too hard to be optimistic, in the following article. Observe how it violently twists its numbers, to paint a more positive picture:

ST Jan 30, 2009
Expect 2% less pay
Drop due to firms cutting bonuses, but basic wages likely to be on uptrend
By Fiona Chan

TOTAL pay packages are likely to take a hit this year as the rapidly worsening economic crisis exerts a heavier toll on Singaporeans.

A new survey by the Singapore Human Resources Institute (SHRI) has found that employers plan to give out less in bonuses this year, with the lowest payments coming from small firms and United States-based companies.

..... 'It is heartening that companies are cutting costs to save jobs and not cutting jobs to save costs,' said SHRI, which polled 208 companies on their wage, bonus and recruitment plans.

The survey, done in conjunction with RDS Remuneration Data Specialists, found that while virtually all companies have been affected by the worldwide downturn, many 'are hopeful of being able to weather the financial storm'.

Just 7 per cent have retrenched or plan to retrench staff this year - less than the 10 per cent last year. However, only four in 10 companies will be hiring this year, compared with more than six in 10 last year.

Okay, back up and read that sentence again - "Just 7 per cent have retrenched or plan to retrench staff this year - less than the 10 per cent last year."

What does that mean? It means that in the entire year of 2008 (that is, over 12 months), 10 per cent of companies retrenched or had plans to retrench staff. And it also means that in the very first month of 2009 (today being 30 January 2009), 7 per cent of companies have already retrenched or made plans to retrench staff.

That doesn't strike me as particularly "heartening" or "hopeful". What will the next 11 months bring?