Saturday, April 23, 2011

Singapore's economy rebounded last year, wages up 5.6%

Well according to government statistics wages are up 5.6% so did you make the cut? Higher or lower?…

Employees earned 5.6 per cent more amid a tighter job market, according to latest government figures

SINGAPORE'S economy rebounded last year, employees earned 5.6 per cent more amid a tighter job market, according to latest government figures.

The average earnings of a worker rose to $4,089 from $3,872 in 2009.

But work in last year's inflation of 2.8 per cent, and the real earnings growth moderates to 2.7 per cent.

These earnings figures, released on Tuesday by the Manpower Ministry (MOM) in its quarterly labour market report, are derived from data on workers' contributions to the Central Provident Fund.

They reflect the average incomes of full-time and part-time local workers, including permanent residents but excluding the self-employed.

The report also showed that Singapore created more jobs than estimated earlier, with 115,900 jobs added instead of 112,500. Most of the new jobs are in the service sector.

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