“Part-timers’ pay higher than pre-Covid-19 levels as travel, festivities return in full swing” (ST, Jan 2)
“In 2021, 64 per cent of hourly part-time salaries were between $8 and $10. In 2022, 68 per cent of these salaries were between $10 and $12.”
Comment:
In this connection, I had posted “Part-time workers only had a real increase of 4,5 cents per hour, p.a. in the last 25 years?” (Dec 31)
So, with this latest media report that hourly wages have increased to from $10, due the festive season demand – let me calculate how much more per hour is it, now, for
the last 25 years
It works out to a real increase of only about 1.9% p.a., or $11.40 monthly or 9.5 cents hourly, per annum, in the last 25 years?
“The median gross monthly income (including employer CPF) from work of part-time employed residents was $600, in 1996
https://stats.mom.gov.sg/Pages/IncomeTimeSeries.aspx
As the definition of a part-time worker was up to 30 hours a week, in 1996 – the income per hour was about $5 an hour ($600 divided by 120 hours)By 2021, the income had increased to $1,170
However, the definition of a part-time worker has been changed over the years, to up to 35 hours a week
So, the income per hour was about $8.36 ($1,170 divided by 140 hours)
Does the above mean that the increase was about 67.2% ($8.36 divided by $5)?
Inflation from 1996 to 2021 was about 41.2% (72.167 CPI 1996, 101.9 CPI 2021 Jun)
https://data.gov.sg/……/…/files/news/cpijun2022.ashx
Thus, the real increase was about 26% (67.2 – 41.2%), or about 0.9% p.a.
For illustrative purposes – does it mean that a part-time worker’s income of $600 in 1996, increased by only about $5.40 monthly, or 4.5 cents hourly, per annum, in the last 25 years?”
