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Report: Report On Wage Practices 2022
Released on:29/5/2023 10:30 AM

As the Singapore economy continued to grow in 2022, there was a strong increase in the proportion of profitable firms. As a result, more firms were able to raise their employees’ wages in 2022 compared to 2021. Nominal wage growth in 2022 was at its highest in a decade. However, after accounting for inflation, real wage growth slowed significantly and was lower than in 2021.​

​​​​​​For more key findings, please refer to the hig​​​​h​lig​​hts ​of the report.​​​​

Released on: 29 May​​ 2023​