SINGAPORE — Wage growth is expected to moderate for the whole of 2023 due to inflation, uncertain business conditions and the global economic slowdown, with firms likely to take a 'cautious approach' in salary increments.
SINGAPORE — Wage growth is expected to moderate for the whole of 2023 due to inflation, uncertain business conditions and the global economic slowdown, with firms likely to take a"cautious approach" in salary increments.
This surpassed the increases in nominal wages for 2020 and 2021, which were 1.2 per cent and 3.9 per cent respectively.However, it added that after accounting for inflation, real wages only rose by 0.4 per cent year-on-year in 2022, down from 1.6 per cent in 2021. MOM said the rise in nominal total wages reflects the efforts by firms to restore wages of some employees who experienced salary cuts during the pandemic, and to retain staff amidst competition for workers.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
5 Singaporean Blue-Chip Stocks to Consider Buying in 2023 - Singapore NewsWhether you’re a fan of dividend investing or simply looking for some solid stocks to add to your portfolio, here are five of Singapore's best blue chip stocks for 2023.
Read more »
10 best places to dine with Dad in Singapore on Father’s Day 2023Father’s Day is coming up soon on 18 Jun 2023, and you know what that means— it’s time to spoil dad with the greatest food and alcohol that you can find! Thankfully, many local restaurants are gearing up to welcome you and your dad to their premises with their specially curated Father’s Day menus and […] The post 10 best places to dine with Dad in Singapore on Father’s Day 2023 appeared first on SETHLUI.com.
Read more »
Lawrence Wong on US-China rivalry: Singapore does not choose countries, we chose principles - Singapore News“... one key principle is that of territorial integrity and sovereignty, as well as the freedom for countries not to be attacked by others as enshrined in the United Nations Charter,” he added
Read more »
Unleash The Roar: National effort to rejuvenate Singapore’s football focusing on youth - Singapore NewsDespite the current situation, former Singapore national footballer Aide Iskandar believes there is still hope for Singapore’s football to regain its footing
Read more »
Travel: Tourism is bright spot and saving grace where Singapore’s economy is concerned - Singapore NewsThis growth is also due to a strong recovery in international visitor arrivals
Read more »
Chinese airline apologises after ground staff in Singapore calls passenger a 'dog' - Singapore NewsIn the video footage, the staff member is heard saying to the passenger, 'If you want to be a dog, then I can treat you as a dog.'
Read more »