Singapore residents’ monthly incomes rise
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Singapore residents’ monthly incomes rise
By Faris Mokhtar | Yahoo! Newsroom – Wed, Nov 30, 2011Incomes of Singaporeans and permanent residents rose sharply this year amid good economic growth and a tighter labour market.
Also, the employment rates for older residents and for women in their prime-working age reached new highs, according to findings of the Ministry of Manpower (MOM).
Based on the Labour Force Survey conducted in June, the median monthly income from work of full-time employed residents – Singaporeans and PRs – increased by 8.3 per cent to S$3,449 this year from the previous year.
The rise was faster than the 2.5 per cent growth reported the previous year.
After taking the inflation rate into account, the median monthly income rose in real terms by 3.1 per cent after a fall of 0.3 per cent in 2010.
Excluding employer contributions to the Central Provident Fund, the monthly median income grew by 8.0 per cent to S$2,925 this year, while real income grew by 2.8 per cent.
The number of economically-active residents increased by 1.6 percent to 2.08 million in June this year, slower than the 3.1 per cent growth last year as tighter immigration led to fewer PRs overall.
One of the key findings of the survey was that the employment rate of those aged 25 to 64 rose to a new high of 78 per cent from the 77.1 per cent attained last year.
This came on the back of the growth of the employment rate for women aged between 25 and 54 to 73.0 per cent this year from 71.7 per cent the previous year.
Also, the employment rate of older working residents – those within the 55 to 64 age bracket – rose to a record 61.2 per cent, up from 59 per cent the previous year.
This trend of more elderly people in the workforce could continue with more of them from the post-war generation crossing over into older age groups and gaining employment.
The survey showed that three in 10 residents in the labour force this year were 50 years old and above, an increase from the 18 per cent share in 2001.
Also, the number of better educated residents joining the workforce continues to increase with 28 per cent of them being degree holders and 47 per cent holding diploma and professional qualifications.
More residents got jobs in the professional, managerial, executive and technician (PMET) and non-PMET sectors with respective growth rates of 2.2 per cent and 1.5 per cent.
However, PMETs experienced a lower unemployment rate of 2.4 per cent compared to residents working in the clerical, sales and service industry and production sector which stands at 5.7 per cent and 4.3 per cent respectively. -
Tell me this is a joke
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All the good news start coming out.
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So I suppose those people around me telling me their salaries are stagnant told me lies, how sad!
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the usual confidence report ...
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Originally posted by winsomeea:
Singapore residents’ monthly incomes rise
By Faris
Mokhtar | Yahoo!
Newsroom – Wed, Nov 30,
2011
Also, the number of better educated residents joining the workforce continues to increase with 28 per cent of them being degree holders and 47 per cent holding diploma and professional qualifications.
28% + 47% = 75% with diploma/degree or higher.
Only 25% with lower education.
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Originally posted by charlize:
28% + 47% = 75% with diploma/degree or higher.
Only 25% with lower education.
Numbers are beautiful and useful. They are there for a beautiful picture, aesthetic reasons. -
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Originally posted by Fcukpap:
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really??salary are so high now???i would like to believe salary are so high now for average person but from the annual tax books they sold in bookshops in the past...its close to science fiction.i must be an idiot to even believe those figures.
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and how come the grab a flight engineer salary when no one is a flight engineer for last 20 years!
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anyone can make a statistics thing...just add in 2 seasoning cubes,,,shred some cheese in....shake your ass...point your fingers at it many time...and yu have an authentic sporean statistics....just add croutents or what u call it.
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where does the ministry get the stats from and how it extrapolated the stats?
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Stats don't lie. See the wages of these 5 groups of people.
EXAMPLE
A: $10,000
B: $5,000
C: $2,500
D: $1,200
E: $800
Avg: $3,900
A: $20,000
B: $10,000
C: $2,500
D: $1,200
E: $800
Avg: $6,900
A: $30,000
B: $15,000
C: $2,500
D: $1,200
E: $800
Avg: $9,900
See the median wage really did increase.
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Originally posted by mancha:
Stats don't lie. See the wages of these 5 groups of people.
A: $10,000
B: $5,000
C: $2,500
D: $1,200
E: $800
Avg: $3,900
A: $20,000
B: $10,000
C: $2,500
D: $1,200
E: $800
Avg: $6,900
A: $30,000
B: $15,000
C: $2,500
D: $1,200
E: $800
Avg: $9,900
See the median wage really did increase.
stats dun lie but where do they get the figures? pluck from the top of everything? -
these stats is doubtful.
u know what Jim Rogers say of the stats from most governments, they are not accurate.
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They just call up the IRS or CPF for the figures.
You think they go down to the cleaners, security guards, admin asst, taxi drivers and ask them if their pay have increased.
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"Singapore residents"
If more people drawing million dollar salaries decide to live in Sg, the median wage will sky rocket.
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Originally posted by mancha:
They just call up the IRS or CPF for the figures.
You think they go down to the cleaners, security guards, admin asst, taxi drivers and ask them if their pay have increased.
if they do, it will take ages to even come up with the stats if they were to go each one one by one -
Originally posted by charlize:
"Singapore residents"
If more people drawing million dollar salaries decide to live in Sg, the median wage will sky rocket.
Exactly!
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Stats are not that precise .... sometimes inaccurate....
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Originally posted by Demon Bane:
Stats are not that precise .... sometimes inaccurate....
Stats are just numbers.
It's only as accurate as the people make them out to be.
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Originally posted by mancha:
Stats don't lie. See the wages of these 5 groups of people.
EXAMPLE
A: $10,000
B: $5,000
C: $2,500
D: $1,200
E: $800
Avg: $3,900
A: $20,000
B: $10,000
C: $2,500
D: $1,200
E: $800
Avg: $6,900
A: $30,000
B: $15,000
C: $2,500
D: $1,200
E: $800
Avg: $9,900
See the median wage really did increase.
Im impressive.
Once again, one side of the story from our beloved government.
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Originally posted by gunner77:
Im impressive.
Once again, one side of the story from our beloved government.
Their salary review supposed to be coming up.
Suddenly all the good news start coming out.
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Good news to "justify" super high salary.
Appoint different scripter for different "good news".