Singapore salaries to rise 2.7% next year

Pic by KHAIRUNISAH LOKMAN

Steven Kilfedder, production manager at ECA International, said, "Productivity growth in the United Kingdom has remained low in recent years so employers have not been able to offer the level of salary increases that they have been able to in the past".

ECA said that next year's pay rise predictions were in line with what happened this year, when employees received a disappointing 0.1% real salary increase due to a jump in inflation caused by sterling's fall in value.

Singapore employees can expect a 2.7 percent "real" wage increase next year - down slightly from this year's 2.9 percent.

That puts the United Kingdom at the tail end of the salary increase table in Europe, ranking 23rd out of 26 countries surveyed in the region. The city sits at 25th in the global ranking in terms of real salary increase.

"President Macri's market-friendly policies are expected to bear fruit in Argentina next year, causing inflation to cool and bringing respite to hard-pressed workers after years of low or negative real salary increases", Mr Quane added.

The predicted real salary increase is calculated as the difference between the predicted nominal salary increase and inflation. "This reflects the fact that the Singapore economy continues to perform well on the back of global economic recovery". Factoring in inflation, real wage rises in the region will average 2.8 per cent, higher than other parts of the world.

Asia-Pacific countries occupied eight of the top 10 spots in the global rankings, led by India in second place with a real wage growth of 4.9 per cent.

Among South-east Asian countries surveyed, Vietnam and Indonesia jointly ranked fourth globally, ahead of Thailand (sixth) and Cambodia (10th).

In comparison, last year's survey predicted a real wage increase of 2.9 per cent in 2017 after taking into account inflation of 1.1 per cent.

However, Australians can expect real wages to rise by only 0.8 per cent, the survey found.

Workers in Malaysia, which was ranked 20th, have enjoyed wage increases of above 5 per cent for several years, thanks to low unemployment and a strong economy.

Only professionals in Hungary, Poland and Ukraine are anticipated to have lower pay increases than those in Britain.

Related News:

  • India's Oct trade deficit at $14.02 billion

    India's Oct trade deficit at $14.02 billion

    India's trade deficit came at $14.02 billion in October, highest since November 2014, from $8.98 billion in the previous month. Imports, however, grew by 7.6 per cent to $37.11 billion in October from $34.5 billion in the corresponding month a year ago.

    Kulicke and Soffa Industries, Inc. (NASDAQ:KLIC) To Release Earnings

    Accern ranks coverage of public companies on a scale of negative one to one, with scores closest to one being the most favorable. Relative volume is the comparison of current volume to average volume for the same time of day, and it's displayed as a ratio.

    Pokemon GO Adds Alola Outfits to Celebrate Ultra Sun & Ultra Moon

    The Move Tutor was missing in Pokemon Sun and Moon which left a lot of fans frustrated. A hat, a shirt, and some new shoes, too.
  • Rose McGowan Surrenders to Cops In Felony Cocaine Case

    Rose McGowan Surrenders to Cops In Felony Cocaine Case

    In the wake of that bravery, other victims and Weinstein's own employees have spoken out as well, despite also signing NDAs. The fact there was a warrant out for the star's arrest surfaced after the actress brought it upon social media in October.

    FDA warns of 'deadly risks' of the herb kratom, citing 36 deaths

    Around the same time in 2012, the FDA "first put kratom on import alert" FDA press officer Lyndsay Meyer told Business Insider. In some cases, kratom is mixed with opioids like oxycodone, the ingredient in OxyContin, according to the agency.
    Sen. Murphy: Trump So 'Unstable' He May Order Nuclear Strike

    Sen. Murphy: Trump So 'Unstable' He May Order Nuclear Strike

    This is because an enemy ballistic missile launched from the other side of the world could hit the U.S. in barely 30 minutes. Another senator on the panel has drafted legislation proposing to curb the president's power to launch a nuclear attack.
  • Amazon's Australia launch

    Amazon's Australia launch "really, really close"

    Apart from Braeuniger, Head of Amazon Marketplace in Australia, Fabio Bertola also addressed the audience. Follow Business Insider Australia on Facebook , Twitter , LinkedIn , and Instagram .
    Exec Says Fox Sports, Televisa Paid Bribes At FIFA Trial

    Exec Says Fox Sports, Televisa Paid Bribes At FIFA Trial

    Forty-two people and entities have been charged in the case, of which 23 have pleaded guilty and two have been sentenced. Fox Sports did not immediately return a request for comment.

    Growth Analysis of Callon Petroleum Company (CPE)

    When investing in a volatile security, the risk of success is increased just as much as the risk of failure. (NYSE:CIT) shares. New York State Common Retirement Fund raised its position in shares of Callon Petroleum by 3.3% during the 3rd quarter.
  • The Case for and Against The Coca-Cola Company (KO)

    TheStreet cut Coca-Cola European Partners PLC from a buy rating to a hold rating in a research note on Monday, December 5th. As of the end of the quarter Wells Fargo & Company/mn had bought a total of 20 shares growing its stake by 0.6%.
    Recode: Uber faces United States  class-action suit for driver sexual assault, violence

    Recode: Uber faces United States class-action suit for driver sexual assault, violence

    He was arrested and charged with two counts of sexual battery, and Uber refunded her $9.51 for the ride. District Court in Northern California, Jane Doe 1 and Jane Doe 2 describe being raped by Uber drivers.
    Congress May Implement Mandatory Sex Harassment Training. Members Say It's Not Enough

    Congress May Implement Mandatory Sex Harassment Training. Members Say It's Not Enough

    Meanwhile, CNN said sexual harassment is so common in DC that women share an unwritten "creep list" of male lawmakers to avoid. She said that when she was just starting her career in politics, the chief of staff in her office sexually assaulted her.


Most liked

NCAA Rules Braxton Beverly Immediately Eligible To Play For NC State
State had to file new information which wasn't initially available in order for the decision to be reconsidered. Beverly was denied immediate eligibility after leaving Ohio State following Thad Matta's resignation.

HSBC to pay €300m to avoid French tax fraud trial
Two of its former leaders are, for their part, are criminally prosecuted. The fine had been fully provisioned, the lender added.

Bharat 22 ETF anchor book subscribed six times
Only three public sector banks - SBI, Indian Bank and Bank of Baroda - figure in the Bharat-22 index. We take a look at the fund which is part of the government's divestment programme.

Jack Sock pips Marin Cilic in final-set tie-break
Jack Sock has revealed that he was forced out of his room at 4am on Tuesday morning due to a fire alarm at his hotel. The key moment came in the decisive tie-break with Cilic a mini-break ahead at 4-3.

Apple Watch can detect sleep apnea and hypertension, study shows
Both the startup company and the UCSF collaborated to reveal that the said smartwatch could predict hypertension and sleep apnea. Thus, we wonder how the algorithm of Cardiogram could make a good guess without having to use an equipment.

Newtown Families' Lawyers See Loophole To Sue Gun Manufacturers
The National Rifle Association and other gun rights supporters have submitted legal briefs, as have gun control advocates. The lawsuit, which was filed in 2015, was dismissed in 2016 by a lower court.

Jimmy Kimmel Makes Fun Of Matt Damon's Role In Thor: Ragnarok
But we shouldn't worry too much if he ends up leaving the franchise, because the actor may have found the ideal superhero part. Putting aside the talks about his role in the #DCEU , the actor brought along a really cool birthday surprise.

People are convinced Olly Murs' now-deleted tweet is about Melanie Sykes
A source told The Sun that the pair met through a mutual friend and hit it off straight away. They are said to have got close to each other after Sykes' fitness programme .

NY fines Credit Suisse $135 mn over forex manipulation
The investigation also found executives encouraged traders to engage in "front-running", or trading ahead of known client orders. In late September, the British bank HSBC agreed to pay $175 million to avoid prosecution.

Binge and Flush? Netflix Says 13 Million Users Watch in Public Bathrooms
One in two Indians claimed in the survey that a stranger started a conversation with them over the series/movie that they were watching.

Tesla accused of racial discrimination in lawsuit
According to Bloomberg , Vaughn referenced an email to employees from founder and chief executive Elon Musk in his complaint. The company is also facing lawsuits accusing it of discrimination against gay and older workers .

Apple nudges out Xiaomi to retake global wearables lead
This was ahead of 3.6 million fitness trackers and other basic wearables shipped by Xiaomi and 3.5 million by Fitbit . For the July through September quarter, Canalys estimates Cupertino shipped 3.9 million Apple Watch units.

Censor board continues to keep Verna's clearance in ambiguity
The film is expected to be reviewed by the full board today and the Verna team is hopeful for a decision in the film's favour. Images has reached out to Shoaib Mansoor regarding the ban and is awaiting a response .

Colts' TY Hilton a nominee for 2017 Art Rooney Sportsmanship Award
The award, which honors players who display excellent sportsmanship on the field, is voted on by National Football League players. The latter quality has been just as inherent in Robison as the instincts that helped him make the play.

Iraq Kurds say they respect federal court decision banning independence
In September, the KRG held a controversial referendum on Kurdish regional secession, a vote decried by Baghdad as illegitimate. The statement is seen as the latest efforts by KRG to start a dialogue with Baghdad that can lead to a peaceful breakaway.