So, WHO is correct about wages???

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So, WHO is correct about wages???

Postby php » Fri Apr 13, 2012 8:30 pm

So, WHO is correct about wages???
A professor in Economics, A Master's Degree holder in Management or a B Eng holder....

Minister, Prime Minister's Office - Mr Lim Swee Say (Master's Degree in Management, Stanford University)

SINGAPORE: The labour movement has weighed in on ex-NWC chief Professor Lim Chong Yah's radical wage restructuring suggestion, saying that it poses risks in the future.

Professor Lim said that those earning below S$1,500 a month should have their pay increased by 50 per cent over the next three years. He also said wages for those earning S$15,000 or more a month should be frozen for the same period.

However, labour chief Lim Swee Say said that if productivity does not lead to a corresponding increase, competitiveness would be lost which may cause some businesses to close down or re-locate out of Singapore.

This in turn would lead to a higher unemployment rate and structural unemployment.

As such, Mr Lim stressed that the labour movement's current productivity-driven approach is more sustainable.

But it does not come without its challenges. Thus, the focus is to have greater alignment among the government, employers, employees and unions.

Mr Lim said: "The right thing for us to do now is to find a way to strengthen our alignment, to speed up the process of skills upgrading, speed up the process of productivity enhancement and speed up the process of innovation because that's the real solution that I believe will bring us from where we are today to 2020."


Minister of State, Ministry of Trade and Industry & Ministry of National Development - Mr Lee Yi Shyan (B Eng NUS) ... sequences/

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Re: So, WHO is correct about wages???

Postby verykiasu2010 » Sat Apr 14, 2012 9:53 am

in the 80s, there was also a massive increase in pay and massive rise in CPF rate to 50% (25% + 25%), said to "upgrade" singapore workers ..... and immediately priced singapore out of the market, and timed with the great recession in the late 80s ..... graduate pay was S$500 per month

we have never looked since .... in making singapore more expensive in order to afford expensive stuff like when 5 room hdb flat cost from 70k (new from HDB) to 800k resale today
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Re: So, WHO is correct about wages???

Postby UncleLim » Fri Apr 20, 2012 12:30 pm

The REALITY ? The govt is ALWAYS correct. :censored:

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Re: So, WHO is correct about wages???

Postby Sim TT » Tue Apr 24, 2012 1:53 pm

bus or train drivers always in the news recently so we know that they earn more than 1500 but those who are very jialat are those cleaners and security guards. 1500 i think can reach but no point if inflation is very high.

just like can go to school but no money for tuition or not enough for good tutors.

Sim TT
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Re: So, WHO is correct about wages???

Postby justlatte » Fri Apr 27, 2012 12:16 pm

i think so far Banyan Tree towkay is the most sharp ... to-be.html

However, I am particularly concerned about a peculiarly Singapore problem: We have a two-tiered economy which is not sustainable. We have, on the one hand, a high-productivity and skills-competitive export economy (which includes not just manufacturing but also financial and other services) and, on the other, a low-efficiency, unsustainable domestic economy, which I define as all the businesses which essentially serve customers located in Singapore. By and large, these are small and medium-sized enterprises engaged in retail, construction, hospitality, cleaning, nursing, and the like.

The main reason for this sector's low wages and productivity is the liberal import of unskilled workers in this sector. And it is not sustainable because the increase of such workers required to satisfy the growing domestic economy will be inevitably greater than the ability of infrastructure, such as transport and housing, to keep pace. This is now apparent to regular public transport users.

It is this sector which requires restructuring - rapid productivity increase coupled with wage increase. Prof Lim says that a radical wage increase will force productivity increases. His detractors say that productivity increase must come first. It sounds like a chicken-and-egg argument to me. Both must happen at the same time, and with no delay.

Specific sectors need to be identified; unions, employers associations, and the trade associations in these sectors need to have a coordinated approach. True tri-partism will be required here as the medicine will be painful.

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