01 Jan '12, 9pm

S'pore likely to see slower wage growth, fewer jobs created: by Ryan Huang Wenwu SINGAPORE - The Republic is lik...

SINGAPORE - The Republic is likely to see slower wage growth and fewer jobs created amid slowing economic growth. According to some economists, the country is on track to create slightly more than 100,000 jobs in 2011, down slightly from the 116,000 jobs created in the previous year. On Saturday in his New Year Message, Prime Minister Lee Hsien Loong said Singapore, after achieving steady growth of 4.8 per cent last year, would be affected by what looked to be a difficult year ahead for a global economy in flux. In view of the uncertainties in the global economy, more companies have decided to put hiring plans on hold. In 2012, the total number of new jobs is projected to drop to 70,000 - down by about 30 per cent on-year. Wage growth is also expected to moderate in line with the slowdown in hiring. Some experts forecast that nominal wage growth will slow to about 4 per ce...

Full article: http://www.todayonline.com/Business/EDC120102-0000037/Spo...

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