Wage growth slowing despite tight labour market

Singapore

SINGAPORE's labour market remains tight, but wage growth has eased along with the weak economic environment and productivity performance, as well as shifts towards lower-paying jobs and part-time work.

"It is, however, expected to pick up this year, given the tight labour market, although unlikely to exceed the 10-year historical average," the Monetary Authority of Singapore (MAS) said on Tuesday.

The overall and resident unemployment rates fell further to 1.9 per cent and 2.6 per cent respectively in Q4 2014, from an average of 2 per cent and 2.8 per cent in the first three quarters of last year.

Aggregate nominal resident wage growth moderated to 1.6 per cent in H2 2014, considerably lower than the 3.0 per cent in H1 2014 and th…