- The real nominal median income for all employed residents rose by only 1.1% to $2,500 in 2010.
- Real wage growth for the last 10 years or so, is only about slightly over one per cent per annum.
- The real median monthly income from work of residents in full-time employment only increased by 1.8% to $2,710 in 2010.
- Part-timers’ real median monthly income increased significantly by 11% to $700 in 2010. This due to in part to reclassification of part-timers from those working below 30 hours to those working below 35 hours. This reclassification will also also result in an improvement of median monthly income numbers for full time workers because you need to work 5 more hours to be considered a full time worker.
The report basically tells us that things have not improved much for the resident worker for the past 10 years. as measured by the median income. However, the problem I have with the figures in the Workforce 2010 Report is it does not provide separate figures for residents (citizens + PRs) and Singapore citizens. Permanent Residecies are granted based on income, education and job status of a person through a selection criteria. Lumping the PRs with citizens makes it hard to tell what has happened to Singaporean workers over the years. Unemployment is reported as 4.1% among residents...but what is the unemployment among Singaporeans? PRs need to have a job to granted permant residency so grouping citizens with PRs makes it unclear how serious the unemployment problem is among Singaporeans.
The PAP govt claimed that importing FTs in large numbers as it has done in the past decade was for the benefit of Singaporeans. Why then does it not want to show the figures for Singaporeans especially those workers who are born Singaporeans (vs newly granted citizenships which is another distortion to the picture) to illustrate these benefits?
You can't tell exactly what has happened to Singaporean workers from the Workforce Report...just that things have not improved much and have likely worsened in the past decade..by how much we do not know because the govt refuses to say.