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Labour costs to go up faster in 2019: MAS
Business, services costs may rise on productivity woes, despite softer wages
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Annabeth Leow
Published Fri, Apr 26, 2019 · 09:50 PM
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Singapore
ULC, which measures the cost of labour for each unit of economic output, is tipped to pick up - despite milder wage growth - as productivity slackens, according to the latest half-yearly economic review from the Monetary Authority of Singapore (MAS).
Productivity growth has been on the decline - and the central bank anticipates it to come in below last year's 2.5 per cent, especially as economic output falls in a cooler climate. Meanwhile, overall ULC should rise by around 2 per cent, against 0.5 per cent in 2018, the MAS said on Friday.
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