NTUC warns wages will stagnate if firms do not become more productive

SINGAPORE - Concern about the trend of negative productivity growth was raised by the National Trades Union Congress (NTUC) at a media briefing on Thursday.

Between 2011 and 2013, productivity fell by an average of 0.6 per cent per year

NTUC assistant secretary-general Cham Hui Fong warned that wages could stagnate, adding that the Labour Movement has "spoken so much about improving productivity at the companies' and industries' level but results have been disappointing".

Wages of workers in unionised firms saw a 4.1 per cent increase in 2014, down from a 4.63 per cent rise the previous year.

The figures are based on preliminary estimates as of last month.

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