Wage

DID SINGAPOREAN SALARIES REALLY INCREASE BY 3.9% LAST YEAR?

Submitted by farhan on

As I understand that the narrative emphasis on wage reports has always been on the gross median salary – why the sudden apparent switch to total wage change now? Of course the real total wage change of 3.9 per cent looks much better than the real gross median salary increase of just 0.8 per cent.

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154 MEDIA: S'POREANS WHOSE WAGES DID NOT GROW SHOULD BLAME THEMSELVES FOR CHASING FOREIGNERS AWAY

Submitted by farhan on

For those who have placed the blame for slow wage growth squarely on cheap imported labour, this year’s headline figures in manpower would have been sobering. Despite sharp pullbacks in manpower inflows in the past few years — to the extent that the percentage of vacancies being filled by Singaporeans rather than foreigners this year hit its highest level since 2011 — average pay cheques, after adjusting for inflation, grew by only 0.4 per cent amid tight labour market conditions.

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Tan Kin Lian: Ways to determine a fair wage

Submitted by farhan on

In my view, the right answer is a combination of the three methods, and to use the modern tools to achieve it. A wage panel can be formed to determine the recommended wages for the various types of jobs, after considering the inputs of the workers, relative difficulties of the jobs, and adjusting the wages yearly based on supply and demand (i.e. market forces).
Employers are allowed to employ workers within a margin from the recommended wages.

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