Chart of the Day: Wages edged up 2.5% in 4Q12

A slower pace of growth vs previous quarter.

According to the Ministry of Trade and Industry's Economic Survey of Singapore, nominal average monthly earnings rose by 2.5 per cent in the fourth quarter, moderating from the 3.1 per cent increase in the preceding quarter. 

Nominal wages grew the fastest in real estate services (5.3 per cent), professionals services (4.5 per cent) and administrative & support services (2.7 per cent).

The sectors which saw the slowest nominal wage growth were construction (0.7 per cent), wholesale & retail trade (0.9 per cent) and accommodation & food services (1.7 per cent).

For the whole of 2012, nominal average monthly earnings rose by 2.3 per cent, the lowest rate of increase in three years. In 2010 and 2011, wages had risen by 5.6 per cent and 6.0 per cent respectively.