Poorer Singaporeans earned even less last year


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Feb 26, 2003
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#1
http://www.todayonline.com/articles/127526.asp

Lower-income Singaporeans earned less last year than in 2000, with higher unemployment and smaller wages just two possible reasons for the decline.
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Last year's General Household Survey shows the average monthly household income from work dipped to $1,180, or by nearly 20 per cent, for the 11th to 20th percentile of wage earners, and to $2,190, or by about 5 per cent, for those in the 21st to 30th percentile.
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Ironically, it was the top 10 per cent of wage earners who enjoyed the largest increase in monthly household income. The average of $16,480 was 14.8 per cent higher than the $14,360 earned by this group in 2000.
 

kcuf2

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Dec 29, 2005
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#2
This is the widening of the rich poor gap... those who are rich can easily afford to invest in stable and high earning stocks, and in the end make themselves richer. They can also use their spare money to build businesses and become richer.

But for those that are poor? They can only use every penny saved to eat and buy basic necessities, they cant even dream abt investing for retirement..

Everyday, i m hoping for the day i can make a breakthrough and be as dam rich as billgates, and i will make sure there is no poor s'pore citizens in singapore.
[yaya, vote for me in General Elections year 2988!]
 

ortega

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Nov 2, 2004
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#3
you have my vote!

the main reason is that the lower skilled workers get bad deal in the work force
they do not have much bargaining power and can easily be replaced
 

icarus

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Jan 27, 2002
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#5
This is the swiss standard of living for you :)
:thumbsup:
 

dkw

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As developing countries such as China, India and Brazil up their level, this phenomenon of lower wage/less qualified/les skilled workers suffering a dip in income and job opportunity is occuring around the world in many developed nations. Soon, it will not just be low income workers but middle level wage earners too who will find their incomes stagnant as low cost centres move up the value chain and eat their lunch.

What can governments in developed nations do about this? Re-train, re-tool, and re-educate the workforce, make the country more business friendly. Apart from that, very very little else will work without bankrupting the economy.

Sad situation but inevitable.....
 

Zplus

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Mar 16, 2002
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#10
Well, that is the side effect of any capitalist economy... income inequality...the haves and the have-nots. Not so long ago, some folks tried to address this with communism but that didn't go very far.....;)

So... unless you are living in a Star Trek universe - no money and people basically do things coz they wanna do it - i.e. photography coz its fun, farming coz its fun, cooking coz its fun, etc..... it will always happen. :)
 

kitkat

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Mar 5, 2005
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ortega said:
somewhere in africa

the poor start killing the rich and take their property

That however, makes the whole country poorer and affects individual downstream at the end of the day.
 

Jun 18, 2005
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#13
tink 3 days ago the ch8 news reported WE earning much more income than last few yrs or wat? then the next news is....well electricity bills increasing starting next mth due to PEtROL price..tis petrol thing i have heard of it for around 2 yrs liao n they still mentioning petrol...how sia? :angry:
 

kcuf2

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#15
newbiegrapher said:
tink 3 days ago the ch8 news reported WE earning much more income than last few yrs or wat? then the next news is....well electricity bills increasing starting next mth due to PEtROL price..tis petrol thing i have heard of it for around 2 yrs liao n they still mentioning petrol...how sia? :angry:
one important thing now: its mid yr, and those a$$ inside of course want to up our bills so that they can get higher bonus mah..
and of course a big thank you to those that support *pay and pay*, ur dreams has come true and we now have to pay more and more. :)
 

Aug 16, 2005
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#16
In times of economic downturn, it is a golden opportunity for those who are cash rich to make a killing. With everyone in need of finances to turnover, prices are all time low. Some companies even liquidate assets at low cost to pay bills. Comes the opportunists who buys out the company or assets. And then sell it at higher prices overseas or when economy has improved.

In the world, before and now and in the future, the important thing is to make money. Be bold, do what you can to make as much as you can. No one will help you and no one can predict what the markets are like. But with money... one can survive. All the talk of moralilty can't feed one...
 

Astin

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#17
newbiegrapher said:
tink 3 days ago the ch8 news reported WE earning much more income than last few yrs or wat? then the next news is....well electricity bills increasing starting next mth due to PEtROL price..tis petrol thing i have heard of it for around 2 yrs liao n they still mentioning petrol...how sia? :angry:
U also can tell your clients u need to charge them higher fee because petrol price increase what...
 

scanner

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#18
dkw said:
As developing countries such as China, India and Brazil up their level, this phenomenon of lower wage/less qualified/les skilled workers suffering a dip in income and job opportunity is occuring around the world in many developed nations. Soon, it will not just be low income workers but middle level wage earners too who will find their incomes stagnant as low cost centres move up the value chain and eat their lunch.

What can governments in developed nations do about this? Re-train, re-tool, and re-educate the workforce, make the country more business friendly. Apart from that, very very little else will work without bankrupting the economy.

Sad situation but inevitable.....
This is called Globalization.

The world leaders praised and embrace it (let me see, who donated to their election funds, are they owner or board members of any companies, etc) , but the actual facts is the rich will become richer and the poor will be worse off with it...

Think about it.:think:
 

xtemujin

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Apr 1, 2005
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#19
I still remember about people asking why must we pay following the oil prices when Singapore uses natural gas from Indonesia to run it's turbine generator.

On another note, the taxi and bus fares are going up as shown on CNA. Thanks to PTC for delaying the announcement of the fare hike after the election.:sweat:
 

Astin

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#20
xtemujin said:
I still remember about people asking why must we pay following the oil prices when Singapore uses natural gas from Indonesia to run it's turbine generator.

On another note, the taxi and bus fares are going up as shown on CNA. Thanks to PTC for delaying the announcement of the fare hike after the election.:sweat:
Still got MRT, PUB, GST, rental, etc.
 

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