PART TIME WORKERS GET 0.75% REAL PAY INCREASE OVER PAST 10 YEARS

10.4% of workforce are part-time workers

“Some 10.4 per cent of employed residents were part-timers in 2015“.

As the resident workforce is 2,162,800 – does it mean that there are about 224,931 (10.4 per cent of 2,162,800)?

Work 35 hours is “part-time”?

A part-time worker is one who works 35 hours or less in a week. It used to be 30 hours until it was changed a few years ago in Singapore.

I believe out definition of part-time workers may be the highest in the work in terms of the number of hours worked.

According to the Ministry of Manpower’s Singapore Yearbook of Manpower Statistics 2015 – the median gross monthly income of part-time employed residents grew from $600 in 2004 to $827 in 2014.

This is an increase of about 37.8 per cent ($827 divided by $600) over the 10 years.

Part-time workers’ real pay increase only 0.75% p.a. last 10 years? 

As inflation was about 30 per cent  from 2004 to 2014 – does it mean that the real increase in income was only about 7.8 per cent (37.8 minus 30 per cent) over the 10 years or about 0.75 per cent per annum?

The average (mean) monthly earnings per employee grew from $3,329 in 2004 to $4,727 in 2014.

This is an increase of about 42 per cent ($4,727 divided by $3,329) over the 10 years.

Average earnings’ real increase only 1.14% p.a. last 10 years? 

As inflation was about 30 per cent  from 2004 to 2014 – does it mean that the real increase in earnings was only about 12 per cent (42 minus 30 per cent) over the 10 years or about 1.14 per cent per annum?

Note: “Average (Mean) Monthly Earnings (AME) refers to all remuneration received before deduction of the employee Central Provident Fund (CPF) contributions and personal income tax. It comprises basic wages, overtime pay, commissions, allowances and bonuses but exclude employer CPF contributions.”

LeongSzeHian