Singapore Wage-Growth at Lowest Since 2009 Global Crisis: Chart

(Bloomberg) -- Wages in Singapore grew last year at the slowest pace since the 2009 global financial crisis, reflecting a weak labor market and sliding profits in the city state. Including employers’ pension contributions, workers’ total pay rose 3.1 percent in 2016, down from 4.9 percent in the previous year, the Ministry of Manpower said in a report. The number of companies that cut total wages increased to 17 percent from 11 percent in 2015.

To contact the reporter on this story: Nasreen Seria in Singapore at nseria@bloomberg.net.

To contact the editors responsible for this story: Jake Ulick at julick@bloomberg.net, Karl Lester M. Yap