2021 wage growth likely to be 'relatively muted': MAS

Singapore

THIS year's wage growth is expected to remain "relatively muted", even though the pandemic-led increase in labour productivity is likely to be permanent, the April edition of the Macroeconomic Review has said.

"Resident wage growth is anticipated to rise only slightly from the 1.4 per cent recorded last year, in part reflecting its lagged response to improving labour conditions," the Monetary Authority of Singapore (MAS) said in the review published on Wednesday.