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LoginNEWS: Total wages in SG up by 7-year high of 5.9% in 2007
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Total wages in Singapore up by 7-year high of 5.9% in 2007
Posted: 30 June 2008 1115 hrsSINGAPORE: Despite the fact that Singapore's economy grew by a lower 7.7 per cent in 2007 compared to 8.2 per cent in 2006, wages grew strongly last year.
Total wages – basic wages plus bonuses – of private sector employees rose by a seven-year high of 5.9 per cent in 2007, higher than the increase of 4.5 per cent the year before.
Although inflation was higher in 2007, resulting in a lower increase of real basic wage, the real total wage increase of 3.8 per cent last year was still higher than 2006's 3.5 per cent.
Labour productivity growth, however, declined from 1.5 per cent in 2006 to -0.9 per cent in 2007, partly due to record employment gains last year.
The National Wages Council (NWC), in its recommendation of wage guidelines this year, said companies should grant built-in wage increase commensurate with the companies' performance as well as business prospects so that such increments are sustainable.
It added that companies which have done exceptionally well should consider granting workers a higher variable payment.
- CNA/so
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CPI not equivalent to Inflation meh?
We have negative real wage growth.
Like walking on an escalator.
Wage growth 5.9%, but Inflation 6% to 7.5%.
Does the wage growth include the recent one time bonus?
Does the wage growth apply to those earning less than $1,500?
Mee siam mai hum seller and kopi tiam uncle got 5.9% increase?
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The statistics is correct for 2007 when the inflation and recession have not hit the economy.
Using last year's pay rise to match against the present inflation is like matching last year toto results with this year toto slip, bo bar gay.
The media is trying to fool people that the impact of inflation is nothing.
$2.50 meal may be found in primary or secondary school canteen and not in major food courts.
It is just another round of price rise coming soon so that they have cushioned it with these kind of nonsense.
The next round of price rise - town council, bus, MRT, taxi, school fee.......
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Originally posted by HyperFocal:
Total wages in Singapore up by 7-year high of 5.9% in 2007
Posted: 30 June 2008 1115 hrsSINGAPORE: Despite the fact that Singapore's economy grew by a lower 7.7 per cent in 2007 compared to 8.2 per cent in 2006, wages grew strongly last year.
Total wages – basic wages plus bonuses – of private sector employees rose by a seven-year high of 5.9 per cent in 2007, higher than the increase of 4.5 per cent the year before.
Although inflation was higher in 2007, resulting in a lower increase of real basic wage, the real total wage increase of 3.8 per cent last year was still higher than 2006's 3.5 per cent.
Labour productivity growth, however, declined from 1.5 per cent in 2006 to -0.9 per cent in 2007, partly due to record employment gains last year.
The National Wages Council (NWC), in its recommendation of wage guidelines this year, said companies should grant built-in wage increase commensurate with the companies' performance as well as business prospects so that such increments are sustainable.
It added that companies which have done exceptionally well should consider granting workers a higher variable payment.
- CNA/so
This was due to the great leap in the ministers' salaries!
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There must be a reason for the Official Propaganda machine to churn out the good news - could it be the harsh times that Singaporeans are sinking into that require an injection of desparately needed "good" news ?
Was it not in 2007 that the Department of Statistics again confirmed that even as Singapore achieved a First World GDP per capita of US$29,000 - ‘Singapore income gap widens with economic boom’. ?
Has Singaporeans recovered from the shock that - ‘Two surveys by the Dept of Statistics, Household Expenditure Survey 2003 and General Household Survey 2005, showed that 40% of Singapore Households not only had declining incomes but were also unable to pay their monthly bills !’. before being hit again by the 2007 report ?
Singapore's Gini co-efficient, a measure of income inequality, has worsened from 42.5 in 1998 to 47.2 in 2006 - and is in league with the Philippines (46.1}, and Guatemal (48.3), and worse than China {44.7}.
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Originally posted by Fingolfin_Noldor:
The "$2.50 meal" article over the weekend got me sneering. Jeez.. is the media really out of things to report? What? They expect people to waste petrol or bus/MRT fare just to go look for these obscure stores?
exactly..the CASE are idiots. using $2.50 meals to brain wash ppl..i can even find $2 meals..but what of the food quality and quantity and location? is it cost efficient to go such places..what kind of idiots we have for govt??
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Originally posted by domonkassyu:
exactly..the CASE are idiots. using $2.50 meals to brain wash ppl..i can even find $2 meals..but what of the food quality and quantity and location? is it cost efficient to go such places..what kind of idiots we have for govt??Near Hougang Mall there currently selling chicken rice for $1.50 somemore
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Originally posted by Medicated Oil:
The statistics is correct for 2007 when the inflation and recession have not hit the economy.
Using last year's pay rise to match against the present inflation is like matching last year toto results with this year toto slip, bo bar gay.
The media is trying to fool people that the impact of inflation is nothing.
$2.50 meal may be found in primary or secondary school canteen and not in major food courts.
It is just another round of price rise coming soon so that they have cushioned it with these kind of nonsense.
The next round of price rise - town council, bus, MRT, taxi, school fee.......
Well said
They took data of the 'good old times' to relate to you.
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Originally posted by Atobe:
There must be a reason for the Official Propaganda machine to churn out the good news - could it be the harsh times that Singaporeans are sinking into that require an injection of desparately needed "good" news ?
Was it not in 2007 that the Department of Statistics again confirmed that even as Singapore achieved a First World GDP per capita of US$29,000 - ‘Singapore income gap widens with economic boom’. ?
Has Singaporeans recovered from the shock that - ‘Two surveys by the Dept of Statistics, Household Expenditure Survey 2003 and General Household Survey 2005, showed that 40% of Singapore Households not only had declining incomes but were also unable to pay their monthly bills !’. before being hit again by the 2007 report ?
Singapore's Gini co-efficient, a measure of income inequality, has worsened from 42.5 in 1998 to 47.2 in 2006 - and is in league with the Philippines (46.1}, and Guatemal (48.3), and worse than China {44.7}.
There must be a reason for the Official Propaganda machine to churn out the good news - could it be the harsh times that Singaporeans are sinking into that require an injection of desparately needed "good" news ?
There must be a reason for liars and word twisters such as you to churn out more half truths - could it be the effective policies that are preventing Singapore from sinking that requires an injection of more lies from the slanderers for a desparately needed boosts of morale support for their deluded supporters?
Was it not in 2007 that the Department of Statistics again confirmed that even as Singapore achieved a First World GDP per capita of US$29,000 - ‘Singapore income gap widens with economic boom’. ?
Was it not globalisation, which favours the well-educated, talented and more critically, the skilled, that created this gap? And had not our govt long exhorted all citizens to upgrade their skills, created skill specific education for our citizens?
Has Singaporeans recovered from the shock that - ‘Two surveys by the Dept of Statistics, Household Expenditure Survey 2003 and General Household Survey 2005, showed that 40% of Singapore Households not only had declining incomes but were also unable to pay their monthly bills !’. before being hit again by the 2007 report ?
Had Singaporeans recovered from the disability to pay bills through help from CDCs and NGOs, before being hit again in 2007 by our leaders' committment to help the less unfortunate in our society through more funds and policies to create employment and opportunity?
Singapore's Gini co-efficient, a measure of income inequality, has worsened from 42.5 in 1998 to 47.2 in 2006 - and is in league with the Philippines (46.1}, and Guatemal (48.3), and worse than China {44.7}.
Gini co-efficient had long been disputed as inefficient and subjected to misinterpretation. But of course, liars and dealers in half truths such as Atobe would prefer you take her word for it, in the believe that one here would be too lazy to check for facts, or had studied it before, or ask around.
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