Friday, 29 June 2012 11:09
Report on Wages in Singapore, 2011 and Singapore Yearbook of Manpower Statistics, 2012
- The Ministry of Manpower's Research and Statistics Department has released the “Report on Wages in Singapore, 2011” which presents the main findings of surveys on annual wage changes and wages of common occupations in Singapore in 2011. It covers information on the change in total wages (with breakdown into basic wages and bonuses), wage restructuring as well as wages of more than 300 occupations. The key findings from the report are as follows:
i. The tight labour market continued to lift workers’ wages, despite the slower economic growth in 2011. Total wages (including employer CPF contributions) in the private sector rose by 6.1% in 2011, higher than the growth of 5.7% in 2010. Taking into account the rise in consumer price index (CPI), the increase in real terms was 0.9% in 2011, lower than the gain of 2.9% in 2010. The corresponding figures when adjusted using CPI excluding imputed rentals on owner-occupied accommodation were 1.9% and 2.4%.
ii. Over the long term, real wage increases have been broadly in line with labour productivity growth. From 2000 to 2011, real total wages (including employer CPF contributions) increased by 1.6% per annum (p.a.) while labour productivity grew by 1.7% p.a.
iii. A large majority or 86% of employees in the private sector were under some form of flexible wage system in December 2011, though this eased from 89% a year ago, after rising from 85% in 2009.
iv. Managers remained the highest paid occupational group, with median monthly gross wages at $6,630 in June 2011. The financial services and professional services were among the top three highest-paying industries across many occupational groups, while the accommodation & food services and construction were among the lower-paying industries.
A summary of the key findings are in the Annex.
- The department has also published the “Singapore Yearbook of Manpower Statistics, 2012”, which provides a wide range of statistics on the labour market. These include key data on the labour force, job vacancy, wages, redundancy, labour turnover, hours worked, conditions of employment, labour relations, workplace injuries and occupational diseases, higher education and skills training.
- The information provided in the publications can help job seekers, employers and employees make better informed decisions on career and human resource matters. It also enables analysts to gain a better understanding of the Singapore labour market.
- Both annual statistical publications are available for download at the Ministry of Manpower's website.
Annex - Key Findings of Report on Wages in Singapore 2011