Wages can still raise even as economy slows: Labour chief Lim Swee Say

Wages can still go up despite slower economic growth.

This, provided that Singapore continues to get its policies right, said labour chief Lim Swee Say on Saturday.

That was the message from the National Trades Union Congress (NTUC) secretary-general, ahead of the labour movement's May Day celebrations on Wednesday.

Mr Lim said that to boost production, companies have to innovate and be more productive, by making better use of technology and capital.

The tightening of the labour market here also means that employers have to value their workers even more, regardless of their age, gender or qualifications.

Pointing to how other countries failed to restructure their economies, Mr Lim said: "I believe we can succeed where other countries have failed."

He also pledged to tackle the widening income gap and boost the "Singaporean Core", which it defines as the ranks of local workers, in the major sectors in the economy.

The NTUC will celebrate May Day with a dinner on Sunday, followed by a rally on Wednesday, where May Day awards will be presented to over 90 individuals and companies this year.