I refer to the article “Govt can’t let up on efforts to boost pay” (Straits Times, Mar 8).
Wage increase?
It states that “The ministry repeatedly cites a survey between 2008 and 2010 to show that training has led to wage increases of between 2.6 per cent and 4.6 per cent.
But it is unclear if these increases resulted directly from training, or whether there were other contributory factors.”
Negative real total wage change last 5 years?
In this connection, according to the Ministry of Manpower’s (MOM) web site
- Income – Annual Wage Changes – Total wage Change (%)
- the real annual total wage change (excluding employer CPF) from 2008 to 2012, was -2.4, -1.0, 2.7, 0.1 and -0.8, respectively.
This works out to a cumulative real decrease in wage change of about -1.5% or -0.29 per annum, from 2008 to 2012.
Like a “broken tape recorder”?
So, why do we “repeatedly cites a survey between 2008 and 2010 to show that training has led to wage increases of between 2.6 per cent and 4.6 per cent”?
Leong Sze Hian
*Leong is the Past President of the Society of Financial Service Professionals, an alumnus of Harvard University, has authored 4 books, quoted over 1500 times in the media , has been host of a money radio show, a daily newspaper column, Wharton Fellow, SEACeM Fellow, columnist for Malaysiakini, executive producer of the movie Ilo Ilo (24 international awards). He has served as Honorary Consul of Jamaica and founding advisor to the Financial Planning Associations of Brunei and Indonesia. He has 3 Masters, 2 Bachelors and 13 professional qualifications.