International Business & Economy 36 percent of firms cut or did not increase wages?

36 percent of firms cut or did not increase wages?

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By: Leong Sze Hian
I refer to the Report on Wage Practices 2015 released on 2 June.
36% cut or did not increase wages?
It states that “A smaller proportion of establishments raised wages in 2015 than a year ago. 64% of private establishments raised the total wages of their employees in 2015, down from 72% in 2014. There was an increase in the proportion of firms which kept wages unchanged from the previous year (2015: 25%, 2014: 20%), and to a smaller extent, cut wages (2015: 11%, 2014: 7.7%).”
So, does it mean that about 36 per cent of firms cut or did not give any wage increase?
How many workers did not get any wage increase?
How many workers does this translate to?
Info & Comm had lowest wage increase?
Among all the 11 sectors – Info and Comm had the lowest total wage increase of 2.5 per cent.
This looks kind of strange as we have consistently been told that this sector needs the most local workers and there there is a shortage of workers.

Republished from Leong Sze Hian’s website.

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