Well, it turns out that it’s not all gloom and doom after all, a couple of hours after I posted the article about low wages, it is reported that average income has increased…. bad news for employers though!
Median income of Singaporeans rose 4.2% in 2010: MOM By Mustafa Shafawi | Posted: 30 November 2010 1116 hrs
SINGAPORE: The Manpower Ministry (MOM) said the median monthly income of resident Singaporeans in full-time employment rose by 4.2 per cent over the year to S$2,710 in June, boosted by the strong economic recovery.
That is higher than the marginal growth of just half a per cent in 2009.
MOM said even after adjusting for the higher inflation this year, the median income rose by 1.8 per cent, recovering from a slight dip of 0.1 per cent in 2009.
Part-timers also saw a significant increase of 13 per cent in their median income to S$700 this year.
Overall, the nominal median income for all employed residents rose by 3.3 per cent to S$2,500, after falling by 1.2 per cent last year.
MOM said the growth in income this year came earlier and stronger than in the previous recovery, when the median income hardly moved from 2001 to 2006, before rising significantly in 2007.
The Ministry also said that the strong economic recovery has boosted the employment rate.
The increase in employment rate was broad-based across both prime and older age groups, especially among women. A record 71.7 per cent of women in the prime-working ages of 25 to 54 were working this year, up from 69.4 per cent in 2009.