Singapore wages up slower in 2023 than in 2022

Salary growth: Commuters walk through the rain in Singapore. Nominal total wages were up by 5.2% in 2023, down from 6.5% in 2022. — Bloomberg

SINGAPORE: Wages in Singapore continued growing in 2023, albeit at a slower pace than in the year before.

As economic growth slowed and employers faced challenges maintaining profits, nominal total wages grew by 5.2% in 2023, down from 6.5% in 2022.