~by: Leong Sze Hian~
I refer to the article “S’pore job rate hits new high” (Channel NewsAsia, Nov 30).
According to the Singapore Workforce – 2011 report released on 30 November (see HERE) “Excluding employer CPF contributions, growth in income (median monthly income from work of full-time employed residents) also accelerated in 2011, although by a slightly lower rate at 8.0% (nominal) and 2.8% (real)”
In the past, some of the Ministry of Manpower’s (MOM) labour reports also given the growth in median income for all employed residents (full-time and part-time), instead of just full-time, in the narrative. However, the subject report makes no mention of this.
In this connection, I calculated from the table on page 44 of the report, that the growth in median income for all employed residents (full-time and part-time) was approximately 5.3% (nominal) and 0.1% (real) (2011 – $2,633 divided by 2010 – $2,500 equals to 5.3%).
So, does it mean that the real median income grew by only 0.1% for the year?
3, 4 years of negative real income growth?
Since the report said that the real median income of full-time employed residents dipped by 0.3% in 2010, and real median income growth of all employed residents (full-time and part-time) was negative in 2009 and 2008 (according to past labour reports), does it mean that this year’s real growth was only 0.1% after almost nearly three previous consecutive years of negative growth?
With inflation currently at 5.4% in October, how likely is it that we may end the year with yet again, another negative real median income growth?
Median growth 1.1% last 10 years
“Cumulatively, the median monthly income from work (including employer CPF contributions) of full-time employed residents rose by 36% or 3.1% p.a. from $2,387 in 2001 to $3,249 in 2011. The increase after adjusting for headline inflation was 11% or 1.1% per annum, with virtually all the gains occurring in the second half of the decade from 2006 to 2011. The median income rose faster than the income at the 20th percentile level, which grew by 25% or 2.3% p.a. from $1,383 in 2001 to $1,733 in 2011. Factoring in headline inflation, the real income growth at the 20th percentile level was only 2.6% or 0.3% p.a.”
So, over the last 10 years, real median income grew by only 1.1% per annum, and only 0.3% per annum at the 20th percentile!
More part-timers?
“The number of part-timers continued to rise from 176,700 or 9.0% of employed residents in 2010 to 194,700 or 9.7% in 2011. 47% of the part-timers were willing and available to work additional hours (i.e. time-related underemployed) in 2011 … their number increased from 86,600 or 4.4% of all employed residents in 2010 to 91,200 or 4.6% in 2011, reflecting the rise in part-time employment”
Is this an indication that it may be getting harder to get a full-time job?
More contract workers?
“The number of resident employees on term contracts rose by 1.1% over the
year to 188,400 in 2011”
Interesting, the bulk of contract workers – 108,500, were on term contract of less than 1 year.
Is this an indication of the trend of more out-sourcing and contract employment?
No more break-down for Singaporeans/PRs?
Finally, since for the first time – MOM’s labour report last month gave the breakdown of the unemployment rate into Singaporeans and permanent residents (PRs), why does the subject report not continue this expanded disclosure by breaking-down the employment statistics too?
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Sad that the ruling party still continue with its data manipulation.
Really sad.
Too much disclosure of the ground truth will not make PAP look good to Singaporeans. The only good things they were willing to share and happily publish are all the various books talking about how “godly” PAP was. LKY himself have an encylopedia all lined up for him by ST editors.
Coming back, all PAP wanted to do is to think of strategy to recapture Aljunied hearts, all other matters are secondary and can stall time. They have cried, apologised and shrunk but will they change? Transparency and full disclourse is just a mini step, if they can’t even do this step, don’t expect them to walk their talk.
Singapore Workforce- 2011 report is not exactly a glowing one but it tries to paint a rosy picture.
The outlook for the global economy is bleak. Unemployment will rise. This could be the reason why MOM is not giving separate breakdown of unemployed Singaporeans and PRs. Singaporeans need to brace themselves for bad times in the Year of the Dragon.
the hard truth that keeps S’pore going is not to tell the public the whole truth…
the picture most look rosy to have a positive, feel good effect. what’s not good is omitted, cos bad news will lead to a louder chorus to reduce their salaries by a wider margin. such negative news if held back long enough, can also mean that people will still vote (of confidence?) for PAP.
When people sometimes say such and such a politician dies, they will spit at their graves, I think I can understand where they are coming from now.
This government has lots of excuse for everything, they will come up with more and better excuses, the only thing we can do is spit. Then be careful you can be fine for spitting.
@ Mice Is Nice
Wah mice mice mice lucky you got a beautiful smiley face from Titiana at the other thread.
Strong gdp growth, but weak income growth.
Instead of looking at median income growth, the economic well-being of Singaporeans is better gauged by looking at household savings. Let’s look at a typical couple.
Eg: A young couple with 3-4 years working experience each, earning combined $8k, no children, staying in a 4-room HDB flat. Other than their mortgage (which works out to about $1.5k per month and paid in CPF), this family doesn’t have major financial commitments. As living expenses are fairly low, this couple can save $5k per month or $60k per annum. In 3 years, this couple has close to $200k in savings already.
Thus it can be seen that the average Singaporean couple is indeed very wealthy. Even if there isn’t any income growth, the stock of savings enables the couple to buy private property (if they wish) after only 3-4 years of working, buy a car if they wish, go for expensive holidays, eat at fancy restaurants, shop for latest fashion etc..
The conclusion is our government’s policies have given us very good jobs and made nearly all households quite wealthy. There is nothing to complain about.
..zacky
yeah right?
the young couple you mentioned effectively live on 500 dollars a month for 2 person.
including transport and electrical bills…
yeah very credible.
I hope the pap continue to think like you.
I am sure then that there will be a change in govt.
wah so stupido, the ANSWER is,
MORE SLAVES, LAH
FROM MALAYSIA, BURMA, PHILLIPINES, INDIA, CHINA, ETC ETC
MORE PR AND EMPLOYMENT PASS FOR SLAVES, NO EMPLOYER CPF, THAT CAN BE TAKEN FROM CPF BOARD LAH,
LOCALS ARE DAFT
BORDERS ON “STUPIDO”
The only thing that grows is the pockets of those pap nuts.
Push for all official doc to be audited by international audit firm and ncmp and even members of the public etc。 All opposition mps and ncmp and public please push for this.
Meanwhile, people of csm, cst calibre kindly step out to serve the country please this is most sincere plead and request..
The documents includes statistics please. Need to thoroughly audited and screened，framework and quality and assumptions needs to be there!
i am juz wondering, how of us commenting here are actually earning below the median income?
Pappies
why are you barking about.
When a lie is told too often, it becomes a belief.
@Zacky
3 years saving grow to $200k?!!! Which saving account so high interest rates?!
Oh.. they prob don’t own handphones, cable tv, internet service, and gets plenty of tax relief somehow without kids.
Come here, Zacky.. *roof roof*
Stop licking my boots, Zacky!!! *roof roof*
3 years save $200K *my toes are laughing*
Go away, Zacky!! *roof roof*
Zacky
As living expenses are fairly low, this couple can save $5k per month or $60k per annum. In 3 years, this couple has close to $200k in savings already.
……………
hey smartar sh..why don’t YOU show me you do just that in 3 ears with $200,000 in YOUR savin$
i cut off andychua cork if YOU can do that…
the primister together with his brother and sister can only donate the $ame $200,000$ to their father leekingyou chinese book fund..
ow much salaries do these 3 raked/month?
Try as they might with all these misleading data, I wonder how are they going to convince the people that their lives are improving when they are actually struggling. I suspect it is a prelude to not having meaningful cut to their ministerial salaries.
read the fine print: *Figures in brackets are deflated by
Consumer Price Index excluding owner-occupied accommodation at 2009 prices*
is there even 0.1% real income growth?
Zacky,
Assuming you are right, you only have a good cash flow of $200K.
You still have housing liabilities to pay off for 20 years ?? Plus you assume property price go up.
BTW, when I started work I bought the a 3 ROOM FLAT at peak price before asian crisis. I bought cause of marriage and not cuz of speculation. Lost 20% value in one year. I know of people who lost more because the bought bigger properties.
Hard true is most Singaporeans finances will go hay wire if circumstance change drastically. Cash flow is not wealth.
Your cash flow can crash fast.
like dat say,0.1 pct real incime growth after inflation.
how about countless of sg-workers who lost their jobs to FTs and are jobless with zero income but have to spend on their past savings?
do we consider to take in these jobless sg-workers into our calculations.
if so,it means income growth may be negative actually?
so many heads have rolled since the recent poorest election results ever, for both GE and PE 2011.
you know who you are. you who no longer hold these government-linked positions.
MOM also wants to protect its heads from rolling. there are many things it knows it cannot reveal, even though it is about affairs related to Singapore citizens. this is because like all others, it has lost sight that it is here to serve Singapore citizens, and not this ruling party, nor the 38.5% non-citizens standing on this soil today.
it knows the ruling party continues to hold power, and it has no choice but to keep its head on its shoulders by acting as such, because it will join the other ministeries and GLCs receiving summons by the powerful for a talking session followed by rolling heads.
Highest rate of salary growth went the world record holders who wrote it themselves.
That is why we need an accountable and transparent governance. How could a government hiding information from its people be a good government?
Such simple MOM data (not just this department, others as well) are not open to the public. In all first world countries, such data are all on the website for the public. Is there any bad effect on this countries? OSA is killing the nation building and encouraging dynasty governance. Good governance? My foot!
What good governance there is when total lack of transparency is tantamount to leeching and siphoning GDP.
The PEOPLE are the Ones who Gave the MANDATE.
So, the PEOPLE can ignore, act blur, be ignorant, and yet they are still responsible for the status quo.
The People cannot escape.