Latest CNNGo.com "Say What? with mrbrown" column: 'Tis the season for a pay hike
Excerpt:
“Wages up 5.6% amid rebound” trumpeted a news report, as if all of Singapore got a raise.It looked like they almost wanted to add a “Woohoo” to the headline.
The news report said that the average monthly earnings of a worker in Singapore rose to S$4,089 (US$3,190) from S$3,872 (US$3,021) in 2009, based on earnings figures released by the Ministry of Manpower.
Based on last year’s inflation of 2.8 percent, the report said the 5.6 percent increase was adjusted to a more modest 2.7 percent in real earnings.
This year inflation is expected to hit 4 percent.
I suppose inflation is why the President will be getting a whopping S$890,700 (US$695,000) pay hike. (cont'd)
