Inflation partially erodes Singaporeans' wage gains, but recovery still ongoing
Wages expected to continue growing, but bulk of increases could be eroded by rising consumer prices
Singapore
THE median household income from work is now higher than pre-pandemic levels, as wages bounced back in 2021 from the previous year's decline, according to the latest figures from the Department of Statistics (SingStat).
Wages are also expected to continue growing in 2022, observers have told The Business Times - although the bulk of the gains could still be eroded by rising consumer prices.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Economy & Policy
Social cohesion, long-term planning, political stability are imperatives for Singapore: PM Lee
Singapore’s industrial harmony cannot be taken for granted: Ng Chee Meng
Singapore’s employment growth eases in Q1, as tighter foreign worker quotas kick in for construction firms
US-Singapore FTA marks 20 years: a bridge ‘at the right place, right time’
Daily Debrief: What Happened Today (Apr 30)
Biden’s ‘worker-centred trade policy’ involves building ‘tripartism’: US trade chief