SINGAPORE'S robust economic recovery and tight labour market over the past year have brought cheer for workers on several fronts, going by data in a just-released report on employment and earnings.
Employment among residents which is at its highest level since 1991 - when the Government started collecting and publishing data on the resident workforce and employment rate - was fuelled in part by more women and older residents being attracted to join the workforce.
Employees were also pocketing slightly higher salaries. The median monthly income for all employed residents was $2,500 as at June this year.
While this was a 3.3 per cent spike compared to $2,420 as at June last year, the real change for workers - after adjusting for inflation - was just 1 per cent.
Still, the increase pushed income levels closer towards the Government's goal of raising Singaporeans' median income to $3,100 by 2020.
Also encouraging in the Singapore Workforce 2010 report, released on Tuesday by the Manpower Ministry, was data which showed a modest drop in the number of low-wage workers - those who earn $1,200 or less a month.
http://www.straitstimes.com/BreakingNews/Singapore/Story/STIStory_609154.html
**************************************
so the median is now $2,500 and the Government aims to push the median income to $3,100 in 10 yrs time?
ARE you earning the median wage?
( i wonder where the survey get their figures from...it doesnt seem the case on the ground level or at least to me.)
such a rosy picture but I do not think it will happen. Especially in industries such as manufacturing or service and also with inflation STILL increasing, it will erode majority of the increase in income..
especially with increasing housing prices.. income can never match the rising prices..
No comments:
Post a Comment