S’POREAN SALARIES ROSE BY 5.4% IN 2015

The Ministry of Manpower (MOM) said in its annual report on wages that real wages rose 5.4% in Singapore in 2015 despite negative inflation.

For the private sector, nominal wages grew only 4%, a 0.9% drop from 2014. Due to poorer economic conditions, companies turned a smaller profit and fewer companies gave salary increases.

MOM statistics revealed that only 64% of companies raised wages for their employees. This was down from the 72% in 2014. 25% of companies stagnated wages in 2015 as compared to the 20% in 2014.

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