More employees received a pay raise in 2018 due to an uptick in the economy
More employees received a salary increase in 2018 due to an uptick in the economy, based on the Ministry of Manpower (MOM)’s report released today (29 May).
Total wages were higher than in 2017. Overall, about 81% of employees received a pay raise in 2018, compared with 78% the year before.
The industries with the highest wage growth last year were financial and insurance services, and professional services. Those in manufacturing, food and beverage services and retail trade saw similar or moderated wage growth.
Additionally, only 9% of employers cut wages in 2018 – down from 12% in 2017.