Wages rose in 2012, though slower than 2011 due to weaker economic conditions: MOM

The tight labour market has continued to raise wages, though this has slowed in 2012 amid weaker economic conditions, said a Manpower Ministry report on Wednesday.

The Report on Wage Practices consolidates previously-released figures on wages and productivity. For instance, total wages in the private sector rose 4.2 per cent last year - but due to high inflation, they actually fell by 0.4 per cent in real terms.

The report also includes fresh numbers regarding employers' wage practices.

For example, as of December 2012, 87 per cent of private sector employees were working in firms which had at least one of the flexible wage components recommended by the tripartite partners.

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