Saturday, October 29, 2005

PAP Govt makes Major Leap in Competitiveness!!

The govt just announced that 300,000 (yes no joke) Singaporeans earn less than $1200 per month. This number has been growing over the past decade. This is indeed a major accomplishment and wonderful news for businesses and GLCs. Despite rising GDP, unlike other countries where workers get higher and higher pay, we are able to maintain a large pool of low wage Singaporeans to preserve our competitiveness. This is great news, companies announce rising profits and top executive salaries have been rising rapidly. When the salaries of top private sector executives go up, there will be compelling reason to raise the pay of our top civil servants and of course our ministers. That is why they are motivated to ensure that Singapore is competitive and share a common interest to better the lives of some Singaporeans. We are indeed lucky to have such a good govt that ensures that Singapore remains competitive as the salary of top earners go up rapidly every year.

1 comment:

Anonymous said...

Singapore's unemployment rate improved to 3.3% in the third quarter from 3.4% in the second quarter as the number of new jobs doubled from the same period a year ago, the government said.