Total private sector wages fall 0.4% in 2009 - Singapore Forums by SGClub.com
Singapore Forums by SGClub.com
Sitemap Contact Us FAQ Singapore Forums by SGClub.com
Home Photos Member List Register Mark Forums Read  
Go Back Home > Lifestyle > Workplace and Business Forum » Total private sector wages fall 0.4% in 2009

Why aren't you a member of SGClub.com yet??

» Join 130,000+ other members in chatting.
» Make lots of new friends here.
» Keep up-to-date with current events.
» Participate in Club outings.
» Download lots of Free Stuff!

Registration just takes 2mins and is absolutely free so join our community today!

I Want to Choose my Own Personal Nickname Now!


Reply
 
LinkBack Thread Tools Display Modes
Old 30th June 2010, 11:52 AM   #1 (permalink)
Experienced SGClubber
*StarDust* has much to be proud of*StarDust* has much to be proud of*StarDust* has much to be proud of*StarDust* has much to be proud of*StarDust* has much to be proud of*StarDust* has much to be proud of

 
*StarDust*'s Avatar
 
Posts: 67,882
Join Date: Oct 2007
Likes: 408
Liked 349 Times in 307 Posts
Gender:

Total private sector wages fall 0.4% in 2009

Total private sector wages fall 0.4% in 2009
Posted: 30 June 2010 1148 hrs


SINGAPORE : Total wages of private sector employees fell by 0.4 per cent last year.

According to the Ministry of Manpower's (MOM) latest publication "Report on Wages 2009," the decline followed a 4.2 per cent increase in wages in 2008.

The decline was due to a drop of 14 per cent in bonus paid out. The bonus amount paid out fell to 1.99 months last year from 2.31 months in 2008.

However, the report said basic wages still rose by 1.3 per cent, but was significantly lower than the 4.4 per cent rise in 2008.

While real total wages also declined last year, MOM said the drop (-1.0 per cent) was less than the contraction in labour productivity (-3.9 per cent).

As a reflection of both the recession and weak productivity performance in recent years, labour productivity contracted -3.8 per cent p.a. while wages grew slightly over the last three years from 2006 to 2009.

Nevertheless, over the longer period since the last recession in 2001, gains in real wages still lagged productivity growth.

As at December 2009, a large majority or 85 per cent of the workforce in the private sector were employed in establishments that had some form of flexible wage system. That's up marginally from 84 per cent in 2008.

Large establishments with at least 200 staff continued to lead in the implementation.

Nine in every 10 (90 per cent) of their workers have at least one key wage recommendation in their wage system.

Having a narrow maximum-minimum salary ratio remained the most widely adopted recommendation by the private sector.

This was followed by linking variable bonus to Key Performance Indicators and incorporating the Monthly Variable Component in the wage structure.

With many establishments having restructured their wage system to tie wages more closely with business performance, the wage changes were correlated with business profitability.

The more profitable private establishments gave small total wage increases while the less profitable and the loss-making establishments cut wages in 2009.

Source: http://www.channelnewsasia.com/stori...066645/1/.html

Sponsors:
__________________
"Dear children, let us not love with words or tongue but with actions and in truth". - 1 John 3:18
*StarDust* is offline  
Add to *StarDust*'s Reputation Reply With Quote
Old 30th June 2010, 09:02 PM   #2 (permalink)
Moderator
Voodoo Vince is a splendid one to beholdVoodoo Vince is a splendid one to beholdVoodoo Vince is a splendid one to beholdVoodoo Vince is a splendid one to beholdVoodoo Vince is a splendid one to behold

 
Voodoo Vince's Avatar
 
Posts: 31,307
Join Date: Oct 2007
Likes: 145
Liked 222 Times in 196 Posts
Gender:

Re: Total private sector wages fall 0.4% in 2009

Yeah, 2009 is the worst year.

__________________
The value of a man resides in what he gives and not in what he is capable of receiving ~ Albert Einstein

*Have fun on SGClub but pls READ the RULES, Report Bad Posts and Give Reputation to Good Ones!*
Voodoo Vince is offline   Add to Voodoo Vince's Reputation Reply With Quote
Old 1st July 2010, 10:29 AM   #3 (permalink)
Cool SGClubber
WriteItPerfect is on a distinguished road

 
Posts: 59
Join Date: Dec 2009
Likes: 0
Liked 0 Times in 0 Posts
Gender:

Re: Total private sector wages fall 0.4% in 2009

Glad 2010 is doing so much better though. 2009 was really bad for many people I spoke to, especially fresh graduates.

__________________
Resume Writing Services at WriteItPerfect.com.
FREE resume evaluation by our HR Experts!

Further discounts available from June - August!
WriteItPerfect is offline   Add to WriteItPerfect's Reputation Reply With Quote
Reply

Thread Tools
Display Modes


Similar Threads
Thread Thread Starter Forum Replies Last Post
Wages down by 1.6% in 2009 christmas_ Workplace and Business Forum 6 16th March 2010 09:51 AM
Help: Private Bus sector didora Workplace and Business Forum 6 18th January 2010 11:59 PM
Private Bus sector didora SGClub Cafe 0 16th January 2010 03:45 PM
26 Jun 2009 : 50 new confirmed cases of Influenza A (H1N1-2009), Total = 365 Voodoo Vince International & Singapore News 19 27th June 2009 09:55 AM

» Sponsors
Watch Free Movies Online
Celebrity Gossip
Food Delivery

» Facebook Fans
» What's Going On?
Title, Username, & Date
Repost comment.
[Maid abuse] Singapore is a very evil and lawless country. There is broad daylight i
Stupid court of appeal gives red light running driver who hit pedestrian 15% discount
Mum's Kitchen Catering and Cherish Delights get licences suspended after nearly 40 people...
[PMD-pedestrian rules] Singapore Court judges are high handed and biased or court rep
Post anything random on this thread.
Ritter Sport chocolate recalled due to undeclared allergen
Aoki Hagane no Arpeggio: Ars Nova
I really hate my mother!!!
Transcend RDF9K2 All-in-One Card Reader
Transcend ESD250C, a portable SSD that’s super classy
How PAP exploited racial differences to impose FASCIST rule over Singapore.
Up to S$7250 of government $ misused for buying each vote in Singapore?
Funky Fields organic vegan spreadable recalled due to 'undisclosed allergen'
100 hawksbill turtles released into the sea after rare hatching on Sentosa
Inspirational Songs
MOH, SFA investigating after 18 typhoid fever cases in 3 weeks
By militarily invading Hong Kong, Xi Jingping is setting in motion, the wheels of nuc
Deng XiaoPing original vision for HKG- China reunification was for the two to unite a
HSA warns against three products
Featured Photos
by marisoljames322
· · ·
Member Galleries
20359 photos
13619 comments
by marisoljames322
· · ·
Member Galleries
20359 photos
13619 comments
by pdsubbu
· · ·
Member Galleries
20359 photos
13619 comments
by Vikas Dhar
· · ·
Photography
35 photos
36 comments
by aaudreygan
· · ·
Guy Photos
1581 photos
946 comments
by aaudreygan
· · ·
Girl Photos
4351 photos
28608 comments
by a8paris
· · ·
Guy Photos
1581 photos
946 comments
by a8paris
· · ·
Guy Photos
1581 photos
946 comments
by aaricia
· · ·
Girl Photos
4351 photos
28608 comments
by aaricia
· · ·
Girl Photos
4351 photos
28608 comments

 

All times are GMT +8. The time now is 11:17 PM.


Powered by vBulletin
Copyright ©2000 - 2019, Jelsoft Enterprises Ltd.
Copyright© 2004-2013 SGClub.com. All rights reserved.