UBS study: SGs' wages continue to slide!

[makapaaa]

<TABLE id=msgUN border=0 cellSpacing=3 cellPadding=0 width="100%"><TBODY><TR><TD id=msgUNsubj vAlign=top> Coffeeshop Chit Chat - UBS study: SGs' wages continue to slide!</TD><TD id=msgunetc noWrap align=right> </TD></TR></TBODY></TABLE><TABLE class=msgtable cellSpacing=0 cellPadding=0 width="96%"><TBODY><TR><TD class=msg vAlign=top><TABLE border=0 cellSpacing=0 cellPadding=0 width="100%"><TBODY><TR class=msghead><TD class=msgbfr1 width="1%"> </TD><TD><TABLE border=0 cellSpacing=0 cellPadding=0><TBODY><TR class=msghead vAlign=top><TD class=msgF width="1%" noWrap align=right>From: </TD><TD class=msgFname width="68%" noWrap>kojakbt89 <NOBR></NOBR> </TD><TD class=msgDate width="30%" noWrap align=right>7:49 pm </TD></TR><TR class=msghead><TD class=msgT height=20 width="1%" noWrap align=right>To: </TD><TD class=msgTname width="68%" noWrap>ALL <NOBR></NOBR></TD><TD class=msgNum noWrap align=right> (1 of 2) </TD></TR></TBODY></TABLE></TD></TR><TR><TD class=msgleft rowSpan=4 width="1%"> </TD><TD class=wintiny noWrap align=right>42837.1 </TD></TR><TR><TD height=8></TD></TR><TR><TD class=msgtxt>Updated UBS study: Singaporeans’ wages continue to slide

January 2nd, 2011 |

Author: Editorial |

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Contrary to Prime Minister Lee Hsien Loong’s proud proclaimation that Singapore has enjoyed record high growth in 2010, the lives of ordinary Singaporeans doesn’t seem to be getting any better.
According to the updated UBS study “Prices and Earnings” released in August 2010, the gross wage index of Singapore has declined from 31.3 in 2009 to 30.0 in 2010. It remains far below that of Tokyo (77.1), Seoul (37.4), Hong Kong (34.9) and Moscow (33.3). (download full study here)
The same study also found that employees in Copenhagen, Zurich, Geneva and New York have the highest gross earnings.
The findings are hardly surprising as the median wages of Singaporeans have remained stagnant at $2,500 monthly for the last few years, caused partly by the relentless influx of cheap foreign workers as a result of the PAP regime’s ultra-liberal immigration and pro-foreigner policies.
A recent Wall Street Journal editorial revealed that the continued inflow of immigrants into Singapore has depressed the wages of Singapore workers, increased the cost of living and led to an overall decline in the standard of living.
Though Singapore’s economy has ‘rebounded’ strongly in the aftermath of the global economic downturn in 2008, the fruits of the growth is not distributed equally among citizens.
In contrast, PAP ministers are likely to get a hefty bonus last year as a certain percentage of their salaries is pegged to GDP growth – the higher the growth, the more money they bring home.
PM Lee reiterated the need for Singapore to be ‘welcoming’ to ‘talents’ in the same speech. Singaporeans will have to ask themselves whether his immigration policies have improved their standard of living since the flood-gates were flung open in 2003.
.
Jamison

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[Coolsaint77]

The cheaper costs of hiring FTs bring down the average, but it does not mean Singaporean wages are not rising.

Was doing some New Year shopping with partner in Orchard yesterday, at a cosmetic counter. Partner was testing out the different tones of foundation.

1) Singaporean staff (ugly and rough face): stood beside with a dumb look, said nothing. Handphone rang and off she went chatting happily on her phone.

2) FT Staff (pretty and friendly): came by with a big smile, explained the meaning of the different codes, tried the different tones on partner's skin, made her recommendation.

You judge. Do you prefer to be served by the grouchy Singaporean or the extremely grateful FT?

If not for the quotas imposed on having to hire how many Singaporean for every FT, i think many of the lower educated local girls will have to go be prostitute.