• About Us
    • Fact Checking Policy
    • Ownership & funding information
    • Volunteer
  • Subscribe
  • Letter submission
    • Submissions Policy
  • Contact Us
The Online Citizen Asia
  • Opinion
    • Editorial
    • Commentaries
    • Letters
    • Comments
  • Current Affairs
    • Singapore
    • Malaysia
    • Indonesia
    • China
    • ASEAN
    • Asia
    • International
  • Finance
    • Economics
    • Labour
    • Property
    • Business
  • Community
    • Arts & Culture
    • Consumer Watch
    • NGO
    • Lifestyle
    • Travel
  • Politics
    • Civil Society
    • Parliament
    • Transport
    • Education
    • Environment
    • Health
    • Housing
  • Law & Order
    • Legislation
    • Court Cases
No Result
View All Result
  • Opinion
    • Editorial
    • Commentaries
    • Letters
    • Comments
  • Current Affairs
    • Singapore
    • Malaysia
    • Indonesia
    • China
    • ASEAN
    • Asia
    • International
  • Finance
    • Economics
    • Labour
    • Property
    • Business
  • Community
    • Arts & Culture
    • Consumer Watch
    • NGO
    • Lifestyle
    • Travel
  • Politics
    • Civil Society
    • Parliament
    • Transport
    • Education
    • Environment
    • Health
    • Housing
  • Law & Order
    • Legislation
    • Court Cases
No Result
View All Result
The Online Citizen Asia
No Result
View All Result

MOM’s latest report puts median income for local residents at $4,437 (before CPF contributions)

by kathleen
29/11/2018
in Current Affairs, Labour
Reading Time: 2 mins read
0

Blurred defocused abstract background of people walking on the street in Orchard Road in Singapore - Crowded city center during rush hour in urban business area zebra crossing - View from building top (Photo by View Apart from Shutterstock.com)

The median income of full-time employed residents has continued to grow according to the Ministry of Manpower (MOM). Since 2013, the median income has risen by 3.5% to S$4,437, which is significantly higher than the 1.9% rise in the previous five years (2008-2013). That’s $4,437 including employer CPF contributions, which means the median take-home pay after deducting CPF contributions is $3,549.60.

In their recently released labour force report, MOM stated that lower income earners are also experiencing faster income growth at 4.2% compared to median workers (3.5%), which is narrowing the income gap. This is attributed to tighter labour market regulations due to foreign workforce policy adjustments and other policy measures such as employment credits and the progressive wage model.

One has to note that the statistics used in the MOM’s report, are pertain to the resident population, comprising Singapore citizens and permanent residents. Therefore it does not make a distinction between the two and might explain the disbelief some Singaporeans have, of the report.

Part-time employed residents (up to 35 hours a week), however, had no increase in their income (excluding employer CPF contribution) last year. This means that after adjusting for inflation – they had a negative real increase in income. For Singaporeans being mingled with PRs statistics, may fare even worse.

(Image from Comprehensive Labour Force Survey by Manpower Research & Statistics Department, MOM)

As for unemployment, the report showed that unemployment rates for professionals, managers, executives, and technicians (PMET) decreased for a second successive year to 2.9% in 2018 from 3% the previous year. The decline was a little better for non-PMETs, from 4.5% in 2017 to 4% this year.

(Image from Comprehensive Labour Force Survey by Manpower Research & Statistics Department, MOM)

While the unemployment rate for PMET over 50 softened a little this year, the long term unemployment rates that same group rose by from 1.1% to 1.5% in 2018. The report suggested that while PMETs over 50 benefitted from improved labour market conditions, there are still those who face difficulty in re-entering the workforce.

MOM also noted, however, that a higher number of older workers have returned to the workforce as the employment rate for residents ages 65 and over continue to rise from 25.8% in 2017 to 26.8% in 2018.

This has helped to offset the impact of ageing on the labour force participation rate which has broadly stabilised in the recent four years (67.7% in June 2018), following an earlier uptrend.

Over all, employment rates for residents ages 25 – 64 were around 80% which places Singapore 4th among OECD economies in terms of full-time employment (8th overall).

Essentially, the report shows that the local labour market has improved in the past year as the economy has picked up. But the ageing population is putting pressure on the workforce participation rate. Basically, there’s not enough young people entering the workforce to counter the amount of older people leaving the workforce.

You can find the preliminary report on the Comprehensive Labour Force Survey conducted by MOM on their website.

For just US$7.50 a month, sign up as a subscriber on The Online Citizen Asia (and enjoy ads-free experience on our site) to support our mission to transform TOC into an alternative mainstream press.

Related Posts

Adani’s brother runs SG company and registers as director with local ID
Current Affairs

Adani’s brother runs SG company and registers as director with local ID

03/02/2023
Minister Tan See Leng only reveals 500 intra-corporate transferees from India for last year – a Covid year
Opinion

Increasing number of working Permanent Residents in Singapore but with a stable PR population

03/02/2023
Opinion

A multi-party parliament is the only way to make sure that Singapore continues to not condone or tolerate corruption

03/02/2023
Anwar criticised over appointing own daughter as his senior advisor
Malaysia

Anwar criticised over appointing own daughter as his senior advisor

03/02/2023
Level of unemployment in Indonesia shows failure in the Job Creation Law, says KSPI
Indonesia

Level of unemployment in Indonesia shows failure in the Job Creation Law, says KSPI

02/02/2023
Commentaries

The Keppel bribery scandal tests Singapore’s zero-tolerance policy towards corruption

02/02/2023
Subscribe
Connect withD
Login
I allow to create an account
When you login first time using a Social Login button, we collect your account public profile information shared by Social Login provider, based on your privacy settings. We also get your email address to automatically create an account for you in our website. Once your account is created, you'll be logged-in to this account.
DisagreeAgree
Notify of
Connect withD
I allow to create an account
When you login first time using a Social Login button, we collect your account public profile information shared by Social Login provider, based on your privacy settings. We also get your email address to automatically create an account for you in our website. Once your account is created, you'll be logged-in to this account.
DisagreeAgree
0 Comments
Inline Feedbacks
View all comments

Latest posts

Adani’s brother runs SG company and registers as director with local ID

Adani’s brother runs SG company and registers as director with local ID

03/02/2023
Minister Tan See Leng only reveals 500 intra-corporate transferees from India for last year – a Covid year

Increasing number of working Permanent Residents in Singapore but with a stable PR population

03/02/2023

A multi-party parliament is the only way to make sure that Singapore continues to not condone or tolerate corruption

03/02/2023
Anwar criticised over appointing own daughter as his senior advisor

Anwar criticised over appointing own daughter as his senior advisor

03/02/2023
Level of unemployment in Indonesia shows failure in the Job Creation Law, says KSPI

Level of unemployment in Indonesia shows failure in the Job Creation Law, says KSPI

02/02/2023

The Keppel bribery scandal tests Singapore’s zero-tolerance policy towards corruption

02/02/2023
Singapore Law Watch removes commentary on CPIB’s decision to not prosecute former Keppel executives

Singapore Law Watch removes commentary on CPIB’s decision to not prosecute former Keppel executives

02/02/2023
US businesses ‘fear internet curbs in Hong Kong’

Hong Kong offers free flights after COVID isolation

02/02/2023

Trending posts

Former Singaporean shares change of life in Australia with annual pay of S$80,000 as a plumber

Former Singaporean shares change of life in Australia with annual pay of S$80,000 as a plumber

by Yee Loon
30/01/2023
25

...

Earning only S$400 a month, delivery-rider turned hawker threw in the towel after two years of running a rojak stall

Earning only S$400 a month, delivery-rider turned hawker threw in the towel after two years of running a rojak stall

by Yee Loon
26/01/2023
24

...

They have done a fine job of confusing us about the jobs situation

They have done a fine job of confusing us about the jobs situation

by Augustine Low
01/02/2023
36

...

Two Indian nationals paid about S$330 and S$730 respectively for forged certificates submitted in their S-Pass application

MOM found issuing EPs meant for foreign PMETs to PRC waitress and general worker

by Correspondent
26/01/2023
41

...

Singapore warns slower economic growth in 2023

Less than 1 in 10 jobs created in first three quarters of 2022 went to Singaporeans?

by Leong Szehian
28/01/2023
69

...

Excessively charging for an essential need, and calling it affordable because people still can pay for it?

by Terry Xu
31/01/2023
39

...

November 2018
M T W T F S S
 1234
567891011
12131415161718
19202122232425
2627282930  
« Oct   Dec »

The Online Citizen is a regional online publication based in Taiwan and formerly Singapore’s longest-running independent online media platform.

Navigation

  • Editorial
  • Commentaries
  • Opinion
  • Politics
  • Community

Support

  • Contact Us
  • Letter submission
  • Membership subscription

Follow Us

  • Facebook
  • Twitter
  • YouTube
  • Instagram
  • Fact Checking Policy
  • Privacy Policy

© 2022 - 2023 The Online Citizen Asia

No Result
View All Result
  • Opinion
    • Editorial
    • Commentaries
    • Comments
  • Current Affairs
    • Malaysia
    • Indonesia
    • China
    • ASEAN
    • Asia
    • International
  • Finance
    • Economics
    • Labour
    • Property
    • Business
  • Community
    • Civil Society
    • Arts & Culture
    • Consumer Watch
    • NGO
  • Politics
    • Parliament
    • Transport
    • Education
    • Environment
    • Health
    • Housing
  • Law & Order
    • Legislation
    • Court Cases
  • Lifestyle
    • Travel
  • Subscribers login

© 2022 - 2023 The Online Citizen Asia

wpDiscuz