I refer to the article “Redundancies rise amid economic slowdown; unemployment remains low: latest MOM stats” (Straits Times, Mar 15).
Real incomes up?
It states that “With workers in high demand due to the tight labour market, full-time employed Singaporeans saw their real median income, including employer CPF contributions, rise 7 per cent over the year. This is more than the 1.4 per cent rise in 2014.”
20th percentile real income up 1.8% p.a. last 5 years?
According to the MOM report – the real increase in the gross monthly income from work (excluding employer CPF contribution) of full-time employed Singapore citizens at the 20th percentile grew by only 1.8 per cent per annum, from 2010 to 2015.
From $1,000 to $1,093 in 5 years?
To put this into perspective – a worker earning $1,000 five years ago only had a real increase of $93 to $1,093 now.
Security guards – $700 in 2000?
Actually, it may be even worse for some groups of workers. For example, the median basic pay of security guards was $700 in 2000.
Security guards – $857 in 2015?
It is now $857 – an increase of only 22 per cent in the last 15 years..
-11% real increase in 15 years?
Since inflation was about 33 per cent from 2000 to 2015 – does it mean that the real increase was -11 per cent (33 – 22)?
Leong Sze Hian