About 80.2 per cent of the graduates in the labour force secured permanent full-time jobs, a dip from the 83.1 per cent in 2015. According to the Singapore Yearbook of Manpower Statistics 2014 (page H30) – the median gross monthly starting salary of university graduates in full-time permanent employment was $2,750 in 2007.
Graduates’ real starting pay declined 2% last 9 years? Does this mean that their starting salaries increased by about 22 per cent ($3,360 divided by $2,750) in the last nine years? Since inflation was about 24.2 per cent from 2007 (CPI 79.65) to 2016 (CPI 98.932) – does it mean that in real terms – their starting salaries declined by about -2 per cent (24 – 22%) in the last nine years?