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Real salaries rise in Singapore in 2013

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Singapore’s labour force participation rose to a new high, for the second year in a row, to 66.7%.

According to the Ministry of Manpower’s Singapore Workforce 2013 report, the employment rate for Singaporeans between 25 and 64 also reached a record 79% this year, rising 71.8% from 2003.

The report also found female participation in the workforce rose from 50.9% in 2003 to 58.1% this year. Additionally, the labour force participation for workers between 55 and 64 also rose in the same period from 47.3% to 67.1%.

Singapore also experienced stronger real income growth in 2013; after adjusting for inflation, the real median income for residents rose from 2.5% last year to 3.9% this year.

Over the decade, there has also been an increase in the percentage of Singaporeans aged 15 and above who are working or actively seeking employment opportunities.

Between 2008 and 2013, “income growth at the 20th percentile broadly kept pace with that at the median in the recent five years,” the report found.

These figures are part of the Comprehensive Labour Force Survey, which will be fully published in January 2014.

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