Ministry of Manpower: Seven in 10 employees in Singapore got wage increases in 2021 as more firms turned profitable in rebounding economy

30/5/2022 5:02:00 PM

Ministry of Manpower: Seven in 10 employees in Singapore got wage increases in 2021 as more firms turned profitable in rebounding economy

Singapore, Ministry Of Manpower Mom

Ministry of Manpower: Seven in 10 employees in Singapore got wage increases in 2021 as more firms turned profitable in rebounding economy

SINGAPORE, May 30 — Seven in 10 employees got wage increases last year, up from just under six in 10 in 2020, as Singapore ’s economy rebounded and more companies were...

The ministry’s Report on Wage Practices 2021 found that the proportion of profitable employers increased from 63 per cent in 2020 to 75 per cent in 2021.The proportion of employees who received wage cuts last year more than halved to 10 per cent from nearly one in four employees, or 23 per cent, in 2020 as the Covid-19 pandemic took its toll.

MoM also found that among Singapore citizens and permanent resident employees who have been with the same employer for at least a year, total wage growth last year was 3.9 per cent, similar to that of 2019.It added that resident employment grew by 71,300, while non-resident employment fell by 30,000.

Read more:
Malay Mail »

Clearing the cancer doubts before the snip

Dear Dr. G, I am in my late thirties and have a fear of becoming a father again. Read more >>

While in neighbour's state....

Liek Hou strikes perfect 10 with title in DubaiPETALING JAYA: Cheah Liek Hou completed his perfect 10 by winning the Dubai Para International championships.

Singapore and India head list of top 10 countries for travel to ThailandThailand's Centre for Covid-19 Situation Administration (CCSA) has unveiled the top 10 countries with the highest numbers of visitors to Thailand between May 1 and 27.

Vaksin Covid: Mahkamah tolak permohonan 10 individu berhubung award semakan | The Malaysian InsightAward semakan itu berkaitan dakwaan mereka yang vaksin sebabkan kematian, AEFI, diskriminasi terhadap mereka yang tolak vaksin.

Seven fishermen missing after Philippine sea collisionRescuers searched waters off the Philippines on Sunday for seven people missing after a collision between a fishing boat and a cargo ship. theSun theSundaily accident rescue Philippines

PKR polls: Team Rafizi takes Negri, winning in seven of eight divisionsSEREMBAN: Seven of the eight PKR divisions in Negri Sembilan want Rafizi Ramli as party deputy president.

Seven hurt as MPV plunges into river in KlangKLANG: Seven people were injured after their multi-purpose vehicle (MPV) crashed into a river here.

for the latest news you need to know.Favourite Liek Hou defeated Taiyo Imai of Japan 21-11, 21-19 in the SU5 final yesterday to continue with his winning streak that started in 2019.Topping the list of nations contributing the most travellers to Thailand was Singapore, while the top five is made up of Asian nations.× Salin URL SERAMAI 10 individu termasuk waris yang didakwa tidak berpuas hati dengan suntikan vaksin Covid-19, gagal mendaftarkan award semakan kehakiman yang diberikan kepada mereka oleh Mahkamah Timbang Tara.

Monday, 30 May 2022 7:18 PM MYT SINGAPORE, May 30 — Seven in 10 employees got wage increases last year, up from just under six in 10 in 2020, as Singapore’s economy rebounded and more companies were profitable, the Ministry of Manpower (MoM) said today. The ministry’s Report on Wage Practices 2021 found that the proportion of profitable employers increased from 63 per cent in 2020 to 75 per cent in 2021. Prior to the Dubai event, Liek Hou had won in Bahrain last Sunday. “The strong recovery of Singapore’s economy and a tight labour market prompted more employers to raise their employees’ wages in 2021, following a period of wage moderation in 2020,” MoM said in a press release. Meanwhile, 724,291 tourists registered for entry via Thailand Pass between April 29 and May 27. It found that 70 per cent of employees received wage increases in 2021, up from 59 per cent in 2020. “Quite satisfied with my achievement although I did not have the best of preparations before competing in Bahrain and Dubai as the tournaments were held just a couple of weeks after the Hari Raya celebrations. The extent of average wage increases was also higher in 2021 (6.

3 per cent) than in 2020 (4.” In the men’s doubles, Liek Hou and his new partner Fareez Anuar secured their second title in a row after beating Indonesian pair Suryo Nugroho-Oddie Kurnia Putra 17-12, 21-15, 21-9 in the final. On Sunday, Thailand recorded 3,649 Covid-19 cases and 24 deaths.5 per cent). The proportion of employees who received wage cuts last year more than halved to 10 per cent from nearly one in four employees, or 23 per cent, in 2020 as the Covid-19 pandemic took its toll. Meanwhile, Ikhwan Ramli finished runner-up in the men’s singles WH1 (wheelchair) after losing 21-8, 21-16 to Choi Jung-man of South Korea in the final. These cuts were less steep, with those in 2021 getting a wage cut of 5.2 per cent on average, compared to 2020’s 6. Article type: free.

9 per cent cut. Total wage growth ‘dampened’ by higher inflation MoM also found that among Singapore citizens and permanent resident employees who have been with the same employer for at least a year, total wage growth last year was 3.9 per cent, similar to that of 2019. The wage growth, which includes employer Central Provident Fund contributions, is higher than the 1.2 per cent in 2020.

“The rebound in total wage growth in 2021 reflects the broad-based economic recovery across industries, and a tight labour market due to border restrictions slowing down the inflow of non-resident labour,” MoM said. It added that resident employment grew by 71,300, while non-resident employment fell by 30,000. Although wage growth last year was lesser than the 5.9 per cent growth in 2010 — the year after the global financial crisis — MoM said that this suggests employers were still cautious about raising wages, fearing the longer tail of the Covid-19 pandemic. The ministry also noted that Covid-19’s impact on wages was “less severe” than that of the global financial crisis, so wage growth had less ground to recover.

“However, higher inflation in 2021 has dampened real wage growth, although wage growth has continued to exceed inflation,” it added. “The real wage growth of 1.6 per cent in 2021 was only slightly above that of 2020 (1.4 per cent) and lower than 2019 (3.3 per cent).

” Yong Yik Wei, chief economist at the Ministry of Trade and Industry, on May 25 noted that nominal salaries will outpace inflation. Private sector experts also said that while wages growth is to be expected, some sectors will lag behind others. On this point, MoM found that all sectors had experienced higher total wage growth last year, compared to 2020. Total wage growth for outward-oriented sectors — such as information and communications (5.1 per cent), financial and insurance services (4.

1 per cent) and manufacturing (4 per cent) — had “registered healthy expansion even in the midst of the pandemic and continued to see strong wage growth”. It also found that among domestic-orientated sectors, the retail sector had recorded the highest wage increase of 5.5 per cent. “Sectors that were more affected by the pandemic also registered wage increases as demand for manpower rose in tandem with the reopening of the borders,” MoM said. For example, the food-and-beverages services sector recorded an average wage increase of 2.

6 per cent in 2021, up from 1.5 per cent in 2020. The ministry said that it expects the tight labour market to support wage growth this year, despite relaxed border restrictions allowing more non-residents to enter the workforce. “However, downside risks in the global economy remain, such as the ongoing Russia-Ukraine conflict and protracted global supply disruptions, which could moderate demand and nominal wage growth. “With recent shocks to the global supply chains, inflation is projected to stay elevated and dampen real wage growth.

” — TODAY Advertisement .