SINGAPORE: Raising wages to address the issue of rising costs may be an enticing option but that is not the right solution, said Acting Manpower Minister Gan Kim Yong.

He said adjusting wages upwards to meet rising prices would only result in a “price-wage spiral” and Singaporeans should look at the bigger picture.

“What is more important is for us to have a realistic expectation of wages that reflect the underlying economic strength of our industries and also of our productivity. That will allow us to ensure that our economy will be able to sustain its growth momentum,” said Mr Gan.

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SINGAPORE: Employers in Singapore are bracing for a slower job market growth this year, according to the Singapore National Employers’ Federation (SNEF).

Its president, Stephen Lee, said that job growth this year will moderate to about 3 to 4 percent, compared to the 7.7 percent registered in 2007.

Speaking to Channel NewsAsia ahead of Labour Day, Mr Lee also expects demand for higher wages to grow because of inflation.

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I am pleased to be invited as one of the speakers for an upcoming seminar on the 24th March 2008 at URA Centre (2pm - 5pm) with a target audience of 60 to 80 MINDEF officers that will be transiting in 1 to 2 years’ time.

This event is held in conjunction with the training arm of ST Electronics and Vector Scorecard. I will be touching on the following areas:-

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SINGAPORE: The Singapore economy has been creating more and more jobs but there are not enough Singaporeans to fill them.

So companies are turning more and more to foreigners. Hence the proportion of new jobs going to Singaporeans has been falling over the years.

A Manpower Ministry study noted that in the three years between 2004 and 2006, although increasingly more jobs were created each year, those going to Singapore citizens fell from 45 percent to 40 then 37 percent in 2006.

Latest MOM numbers showed 360,700 jobs were created between 2004 and 2006. Foreigners took the largest share, clinching 156,500 jobs, with 141,700 going to Singaporeans and 62,500 to permanent residents.

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