wages

Labour is lowly paid but not underpaid in Malaysia
(May 13): With the one-year anniversary of the Pakatan Harapan-led government now in the rear-view mirror, one thing is certain — much more remains to be done. In particular, the issue of the rising cost of living continues to top surveys as the biggest challenge for Malaysians. Over the past year, the government has implemented various measures to tackle high living costs, including the ...
Infrastructure developments the gateway to job creation and economic growth
SINGAPORE (May 13): The expansion of the construction sector for the first time in 10 quarters has provided relief to Singapore’s GDP. The sector grew 1.4% in the first quarter of the year, following a surge in non-residential developments as well as a reduced sluggishness in the residential property market segment, the Monetary Authority of Singapore (MAS) indicated in its latest half-yearly ...
Singapore among few Asian countries forecast to enjoy real wage growth this year
SINGAPORE (Jan 31): Singapore’s workforce is due for an average salary increase of 4% this year compared to 3.7% predicted in 2018, according to a forecast issued today by consulting firm Korn Ferry. The data was drawn from Korn Ferry’s pay database of over 20 million job holders in 25,000 organisations across more than 110 countries. It showed predicted salary increases as forecasted by ...
Rage against the machines?
SINGAPORE (Oct 12): While much has been said about jobs being taken over by robots, many experts still see human talent working alongside AI to deliver the most productive outcome. In fact, a company’s adoption of technology could help its employees become more fulfilled. “[Technology adoption] opens doors for workers to perform higher-value work and develop soft skills,” says Deloitte ...
Singapore ministers won’t be seeing a pay raise anytime soon
SINGAPORE (Mar 2): Some of the world’s most well-compensated ministers won’t be getting a raise anytime soon. The Singapore government isn’t accepting the 9% salary increase recommended by a review committee, Deputy Prime Minister Teo Chee Hean said in parliament Thursday. Another assessment may not be done for another five years. After the last review, Prime Minister Lee Hsien ...
Central bankers shun policy clues as trade pervades Jackson Hole
(Aug 28): Leaders of the world’s most powerful central banks defended post-crisis reforms at their annual retreat in Jackson Hole, Wyoming, while discussing the causes and consequences of populist waves that have reshuffled the political order in the US and Europe. Monetary policy wasn’t a major focus during the three-day gathering. When it was discussed, the messages from the Federal ...
4 charts that say still too early to get excited about Singapore's economic rebound
(June 9): Singapore’s economy may be picking up, but consumers aren’t feeling it.  After two years of below-par growth, economists and even the government are becoming more positive on the outlook. While it's not boom time yet, the consensus is that 2017 growth will come in higher than last year’s 2%. A large part of that is down to exports: Singapore, like other ...
Australia's AAA rating is back under the microscope
SYDNEY (May 9): Australia’s AAA rating is again under the microscope as the government prepares to deliver a budget Tuesday that appears long on spending pledges and short on savings. Of the 10 holders of the top score from the three main rating companies, Australia is the only one that’s increased its debt pile in the past three years. S&P Global Ratings put Australia on negative ...
The strange case of Korea and Taiwan's diverging export fortunes
SYDNEY (March 28): South Korean workers' wages are rising faster than those of regional rivals, and the power of the nation's sprawling conglomerates, or chaebols, remains unchecked, highlighting a lack of serious economic reform. Yet manufacturing exports are booming. Taiwan's labor costs are cheap, and its effective exchange rate far more competitive, yet overseas shipments have been ...
Singapore registers lowest labour force growth in 2016 in over a decade as layoffs continue to rise
SINGAPORE (Jan 26): Preliminary estimates from the Ministry of Manpower’s (MOM’s) latest Labour Market Advance Release have indicated that 2016 was once again a year of increased layoffs and redundancies among Singapore’s residents and citizens as the republic’s economy slowed, as did its total employment and income growth rates. For the full year, the annual average unemployment rate ...