Real Wage Increases in 2016 Expected to be Slashed to Lower than Asian Average

Posted on Nov 13 2015 - 11:45am by Redwire Singapore

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The average real wage increase for employees in 2015 was 4 percent.

But come 2016, that figure is expected to drop to 2.2 percent.

This was reported by consulting firm ECA International.

This 2.2 percent wage increase is lower than the Asian average of 3.1 percent.

ECA International says that Singapore’s relationships with major economies in the ASEAN region and China will see it affected by the slowdown in emerging markets.

Salaries increases are expected to rise to similar rates in recent years once economic growth is more stable.

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