Tag Archives: price hikes

FEWER PEOPLE RECEIVED PAY RAISE IN 2016, AS PRICE HIKES CONTINUES

An MOM report on wage practices, which was released today, indicated that the number of employees who received a pay increase in 2016 has dropped, and total wage growth, which includes CPF contributions, have also fallen. The report also said that profitable private firms also continued to fall, which partly explains why the wage growth has also dropped. All these figures, released by the MOM, shows that people are basically not getting the expected wage hikes that they had hoped for. And all during the same period, the government is having a spree of increasing every price it can. Water hikes, service and conservancy charges, car park hikes, transport hikes, you name it, the government would probably have announced an increase in the past year.

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SALARY INCREASES IN 2017 WILL NOT OFFSET PRICE INCREASES EVERYWHERE ELSE

There were some reports that despite Singapore's gloomy economic outlook for 2017, Singaporean employers are still expecting to award their staff with salary increases, although the increases are negligible. In the survey, most of the companies indicated that salary increases of between 3-6 % are expected. As have been said countless times before, these negligible pay increases, although are very welcome indeed, will not help most people facing tougher financial challenges. How to? Water price already slated to go up by 30%! That is not counting into effect the other fare increases, like the town councils service charges, transport fares, and even food prices, due to the water price hike.

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