[moonrab]

it is not common in many countries.

in this world, only singapore will replace older citizens with young foreigners for jobs.

Midlife Crisis

Miserable middle age is a global phenomenon, according to an analysis of depression and happiness among 2m people in 80 countries. People everywhere follow a U-shaped curve of psychological well-being, with a nadir in their mid 40s.

Two economics professors, Andrew Oswald of Warwick University and David Blanchflower of Dartmouth College in the US, carried out the study, to be published shortly in the journal Social Science & Medicine.

Prof Oswald said the findings contrasted with many previous studies and with applied psychology textbooks – suggesting that, on average, our mood stays relatively consistent as we age.

The researchers analysed information from several different social surveys, including the Eurobarometer Surveys, the US General Social Surveys, the World Values Survey and more specialised surveys of mental health.

The findings were similar in rich and poor countries, with the probability of unhappiness reaching a peak in middle age – slightly earlier in women than in men.

As for 50 years old worker losing job to the young.
In other countries it is the same issue. 
Many Bosses prefer the young and agile. Especially those familiar with advance computer skills. 

They have enough young citizens to replace the older workers. With cheaper cost.
Singapore's small population need foreign labour reinforcement, even after we extend retirement age to 67.