81% of employees saw wage hikes in 2018: study
Total wages in the private sector grew 4.6%.
The proportion of employees who had their wages grow roseto 81% in 2018 from 78% in 2017, according to findings from the Ministry of Manpower.
The average wage increase was also higher in 2018 (5.8%) compared to 2017 (5.1%). However, the average wage cuts further dipped to 4.3% from the 3.9% decline in 2017.
Total wages (including employer Central Provident Fund contributions) in the private sector grew 4.6% in 2018, higher than the 3.8% in 2017. Real total wage also rose to 4.2% in 2018 from 3.2% in the prior year.
In addition, the proportion of firms that raised their employees’ total wages in 2018 increased to 67% from 65% in 2017. The proportion of firms that cut total wages also fell to 9% in 2018 from 12% in 2017.
Wages in the financial & insurance services and professional services posted the highest growth. The manufacturing, food & beverage services and retail trade saw moderated wage growth.
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