Wages expected to keep rising

SINGAPORE - The buoyant economic growth this year has boosted wages by about 6 per cent and analysts expect salaries to climb even higher next year, possibly by as much as 5 per cent.

The expected growth in the services sector, which will account for at least two-thirds of the gross domestic product next year, will be the main driver of wage growth next year, said the Monetary Authority of Singapore (MAS) in its latest macroeconomic review. LINK