According to the Ministry of Manpower (MOM) advance report of how Singapore’s labour market fared in the whole of 2023, with high inflation this year eating into the spending power of Singapore residents, the real incomes for workers at the 20th percentile fell by 3 percent compared with the same period last year, while that for median workers dipped by 2.3 percent, even as nominal wages grew.

Rahul Chawla, Partner and Head of Talent Solutions for Southeast Asia, Aon discusses with the report with us and the reason why employers are not keeping up pace with the rate of inflation. 

According to the Ministry of Manpower (MOM) advance report of how Singapore’s labour market fared in the whole of 2023, with high inflation this year eating into the spending power of Singapore residents, the real incomes for workers at the 20th percentile fell by 3 percent compared with the same period last year, while that for median workers dipped by 2.3 percent, even as nominal wages grew.
Rahul Chawla, Partner and Head of Talent Solutions for Southeast Asia, Aon discusses with the report with us and the reason why employers are not keeping up pace with the rate of inflation.

Your Way Home with Hongbin Jeong is your 4–8pm drive companion,

Your Way Home with Hongbin Jeong is your 4–8pm drive companion, guiding you through the day’s biggest headlines, trending conversations and the issues shaping Singapore and the world.

From news and current affairs to lifestyle insights and generational perspectives, the show helps you make sense of what’s happening — with clarity, context and a touch of personality.

Whether you’re catching up after a long day or tuning in on the move, Your Way Home keeps you informed, engaged and connected — all the way home.

And she closes the day with a song that says it all.

Your Way Home with Hongbin Jeong is your 4&ndash;8pm drive companion, guiding you through the day&rsquo;s biggest headlines, trending conversations and the issues shaping Singapore and the world.
From news and current affairs to lifestyle insights and generational perspectives, the show helps you make sense of what&rsquo;s happening &mdash; with clarity, context and a touch of personality.
Whether you&rsquo;re catching up after a long day or tuning in on the move, Your Way Home keeps you informed, engaged and connected &mdash; all the way home.
And she closes the day with a song that says it all.