04 Jun '11, 9am

Huge wage growth this year?

SINGAPORE: Observers said there was a "gulf of discrepancy" last year, between Singapore's economic growth and workers' salaries. Despite the economy growing 14.5 per cent last year, data from the Ministry of Manpower released recently, showed nominal wages grew just 5.5 per cent. The inflation rate last year was 2.8 per cent. When that's factored in, real wages dipped to just 2.7 per cent in 2010. Kelly Services professional & technical general manager Ben Batten said: "The reality was that while there have been growth in some sectors in salaries, compared to 2007, we're back at similar sort of levels. "The way that equates to dollars and cents in the hands of employees is actually not that great. "We've got heavy inflation pressures and overall, with niche positions, we are seeing some highly competitive salaries. "But if you take an average placement, 100 placements ove...

Full article: http://www.channelnewsasia.com/stories/singaporelocalnews...

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