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Singapore expected to see 4.1% wage growth in 2015: Mercer

Thursday, July 9, 2015 - 13:54
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Asia-pacific's emerging markets continue to lead the world in terms of real wage growth - although levels remain 10 per cent lower than in the pre-financial crisis period.

ASIA-PACIFIC'S emerging markets continue to lead the world in terms of real wage growth - although levels remain 10 per cent lower than in the pre-financial crisis period.

Still, this is a better showing compared to the US and Europe, which remain 20-30 per cent adrift, said Mercer in its annual Total Remuneration Survey released on Wednesday.

Average salary increases for the region in 2015 are forecast at 7.3 per cent, compared to 8.1 per cent in 2008.

As for Singapore, Mercer forecasts that the city-state will see a 4.1 per cent rise in salaries - much lower than countries like India (10.8 per cent) and Vietnam (10.3 per cent), but higher than Japan (2.2 per cent), Australia (3.5 per cent), and Taiwan (3.9 per cent).

Even so, this 4.1 per cent rise in salaries is higher than Mercer's 0.5 per cent inflation forecast for Singapore, resulting in positive real wage growth.

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