Singapore's wage increase sees five-year high in 2005

Singapore's total wages comprising basic wages and bonuses in the private sector rose by 4. 3 percent in 2005 over the previous year, posting the highest increase over the past five years, according to an annual report published by the Ministry of Manpower Friday.

"After adjusting for inflation, real total wages increased by 3. 8 percent while basic wages rose by 2.6 percent. Consequently, the growth in real wages outpaced productivity growth in 2005, a reversal from three preceding years where productivity growth was higher," said the Report on Wages in Singapore.

The growth of total wages for employees in the services industry was 4.7 percent in 2005 with those working in both the transport, storage and communications sector and the financial services sector enjoying the highest increase of 6.7 percent.

The wages for workers in the manufacturing and the construction industries rose by 3.7 percent and 1.8 percent respectively last year.

As far as occupations are concerned, "employers continue to place a premium on skills and knowledge," the report said, adding that workers with higher skills level and experience generally enjoyed higher wage gains than the less skilled.

Professionals received the highest average starting gross wage at 2,500 Singapore dollars (about 1,566 U.S. dollars) per month in June 2005, followed by technicians and associate professionals at 1,703 Singapore dollars (about 1,067 U.S. dollars),

New entrants in less skilled jobs, such as clerks, sales and service workers, cleaners as well as machine operators, got lower starting pay ranging from 755 Singapore dollars (about 473 U.S. dollars) to 1,335 Singapore dollars (about 836 U.S. dollars).

"As in many other countries, females in Singapore generally earned less than males across the broad occupational groups," the report added.

Source: Xinhua