According to the Ministry of Manpower’s (MOM) web site, the real annual total wage change (excluding employer CPF) from 2008 to 2012, was -2.4, -1.0, 2.7, 0.1 and -0.8, respectively. This works out to a cumulative real decrease in wage change of about -1.5% or -0.29 per annum, from 2008 to 2012 – A negative real total wage change for the last 5 years. Real median income change from 2008 to 2013 was only about 1.0 per cent per annum … for the 20th percentile – the real change per annum for the last 10 years was only about 0.3 per cent … The real growth in university, polytechnic and Institute of Technical Education (ITE) graduates starting pay has been negative in the last 7 years or so. - There were 207,100 residents earning below $1,000, 416,900 below $1,500 and 627,800 below $2,000. Since the total workforce was 2,004,600 in 2012 – it means that about 1 in 10 earn below $1,000, 1 in 5 earn below $1,500 and 3 in 10 earn below $2,000. The labour statistics also indicate widespread age discrimination – with real pay decreasing as workers get older from their mid-thirties in age – particularly for the lower-wage occupations like cleaners and service workers.
Posted on: Mon, 28 Apr 2014 10:03:00 +0000
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