Search This Blog

Google Analytics

Saturday, September 26, 2009

Singaporean wages decreased for the past 3 years, while cost of living shot up

The Prices and Earnings 2009 survey by the UBS Swiss bank concludes Singapore's wages to have decreased for the past 3 years while cost of living has shot up.

In all rankings by UBS, Singapore came out low.
  • Singapore’s wages after taxes and social security contributions rank us at 41 out of 73;

  • Singapore ranks as the 15th most expensive city, after factoring in the cost of rent (a major expenditure for Singaporeans);

  • Our workers’ purchasing power is ranked 50 out of 73;

  • Three years ago a Singaporean worker had to work 22 minutes to earn enough to afford a Big Mac. Today that same worker has to work for 36 minutes, because his wages have decreased and the cost of living has increased.
High costs and low wages in Singapore [via]

No comments:

Post a Comment

Do provide your constructive comment. I appreciate that.

Popular Posts