14 Jul '11, 9am

Most Singapore workers see salaries increase | SingaporeScene - Yahoo! News via @yahoosg

Some observations to share, but I'm no economics guru and merely making a layman analysis so please add on or correct me if I'm wrong: Firstly, the wage increase may sound great and enticing. But put it alongside the skyrocketing costs of living, this wage increase becomes insignificant. For instance, I got a 90 buck pay rise, but this increase might have been good in the 1990s when costs of living were still affordable then and most people here could at least have some spare cash to spend on rare luxuries or other essentials, or simply add onto bank savings. In current context, this 90 bucks will be rapidly depleted on essential goods, meals and public transport. In the wake of electricity and public transport (impending) tariff hikes, this sum of money will be depleted even at a faster rate. Second, I'm not sure what methodology the company used, but there is a need to d...

Full article: http://sg.news.yahoo.com/blogs/singaporescene/most-singap...

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