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Wage Changes in Singapore, 2012

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The tight labour market continued to raise workers’ wages, but the pace of increase moderated in 2012, amid weaker economic conditions. After adjusting for inflation using Consumer Price Index (CPI) for all items, real wages dipped in 2012, but increased slightly when adjusted using CPI less imputed rentals on owner-occupied accommodation. Over the long term, real wage increases have been supported by productivity growth.