The National Wages Council has recommended a 5.5 per cent to 7.5 per cent increase in gross monthly wages for lower-wage workers, or a pay bump of at least S$100 to S$120, whichever is higher.

Taking into account the sustained productivity growth over the long term, as well as the improved economic outlook and expected moderation in inflation in 2024, the Council says that employers should reward employees with fair and sustainable wage increases.

Additionally, the council recommended that businesses that have not done well should increase wages at the lower bound of the range. And if business prospects subsequently improve, employers should consider further wage increases.

On this episode of Morning Shot, Sumit Agarwal, Professor of Finance, Economics and Real Estate, NUS Business School shares his insights.

Presented by: Audrey Siek
Produced & Edited by: Yeo Kai Ting (ykaiting@sph.com.sg)
Photo credits: Chua Kee Siong / ST

The National Wages Council has recommended a 5.5 per cent to 7.5 per cent increase in gross monthly wages for lower-wage workers, or a pay bump of at least S$100 to S$120, whichever is higher.
Taking into account the sustained productivity growth over the long term, as well as the improved economic outlook and expected moderation in inflation in 2024, the Council says that employers should reward employees with fair and sustainable wage increases.
Additionally, the council recommended that businesses that have not done well should increase wages at the lower bound of the range. And if business prospects subsequently improve, employers should consider further wage increases.
On this episode of Morning Shot, Sumit Agarwal, Professor of Finance, Economics and Real Estate, NUS Business School shares his insights.
Presented by: Audrey Siek Produced &amp; Edited by: Yeo Kai Ting (<a href="mailto:ykaiting@sph.com.sg">ykaiting@sph.com.sg</a>) Photo credits: Chua Kee Siong / ST

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Join Neil Humphreys and Audrey Siek as they cover the biggest headlines, trending topics, and everyday conversations, unpacked through fresh perspectives, expert insights, and engaging discussion. From current affairs and social issues to lifestyle trends and community voices, each segment offers a different lens on what’s happening — and what’s worth your attention.

And it’s not just talk — it’s your voice. Through polls, messages, and live call-ins, listeners are part of the conversation, sharing their views and shaping the discussion in real time. With a mix of clarity, curiosity, and personality, Let’s Talk, Singapore keeps you informed, connected, and ready for the day ahead.

Start your day with the stories shaping Singapore &mdash; and your place in it.
Join Neil Humphreys and Audrey Siek as they cover the biggest headlines, trending topics, and everyday conversations, unpacked through fresh perspectives, expert insights, and engaging discussion. From current affairs and social issues to lifestyle trends and community voices, each segment offers a different lens on what&rsquo;s happening &mdash; and what&rsquo;s worth your attention.
And it&rsquo;s not just talk &mdash; it&rsquo;s your voice. Through polls, messages, and live call-ins, listeners are part of the conversation, sharing their views and shaping the discussion in real time. With a mix of clarity, curiosity, and personality, Let&rsquo;s Talk, Singapore keeps you informed, connected, and ready for the day ahead.