World · Singapore Bureau
Singapore's National Wages Council backs 6-8% wage hike for lower-paid workers
The tripartite body has recommended substantial pay increases for lower-wage earners while introducing a new category to support struggling employers. The move aims to balance worker welfare with business sustainability.
LSN Singapore ·
Singapore's National Wages Council has recommended wage increases of between 6 and 8 per cent for lower-wage workers, signalling the tripartite body's commitment to supporting lower-income earners amid economic pressures.
In a significant development, the council has introduced a new employer category designed to assist businesses facing financial difficulties. The new classification provides flexibility for companies that are not performing well financially or remain unprofitable, allowing them to operate under modified wage guidelines while they stabilise their operations.
The recommendations reflect ongoing efforts to balance the needs of workers seeking improved livelihoods with the constraints facing employers navigating an uncertain economic environment. The tiered approach recognises that companies operate under different circumstances, from thriving enterprises to those struggling to remain viable.
The National Wages Council, comprising representatives from the Government, employers, and unions, regularly reviews wage guidelines to ensure they remain relevant to prevailing economic conditions and the welfare of workers across different income brackets.