Pay rises eroded by high inflation, real wage growth 0.9% [h=2]Salaries up by 6.1 per cent but real wage growth is 0.9 per cent[/h]
Published on Jun 30, 2012
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Workers in Singapore may have received a more generous pay increase last year, but many of them did not feel much richer for it. -- ST PHOTO: JOYCE FANG
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<!-- storyAds:end -->By JANICE HENG and TOH YONG CHUAN
<!--start of story text-->Workers in Singapore may have received a more generous pay increase last year, but many of them did not feel much richer for it.
That's because high inflation eroded most of the wage bump, according to the Manpower Ministry's (MOM) latest annual report on wages.
So while a tight labour market helped to raise salaries by 6.1 per cent in terms of dollars and cents, real wage growth last year was just 0.9 per cent.
This was much lower than the real wage growth of 2.9 per cent workers enjoyed in 2010.
Published on Jun 30, 2012
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Workers in Singapore may have received a more generous pay increase last year, but many of them did not feel much richer for it. -- ST PHOTO: JOYCE FANG<!--end of story image, if any--><!-- storyAds:start -->
<!-- storyAds:end -->By JANICE HENG and TOH YONG CHUAN
<!--start of story text-->Workers in Singapore may have received a more generous pay increase last year, but many of them did not feel much richer for it.
That's because high inflation eroded most of the wage bump, according to the Manpower Ministry's (MOM) latest annual report on wages.
So while a tight labour market helped to raise salaries by 6.1 per cent in terms of dollars and cents, real wage growth last year was just 0.9 per cent.
This was much lower than the real wage growth of 2.9 per cent workers enjoyed in 2010.
