2 in 5 Singaporeans troubled with high cost of living
They're worried that their current salary is not enough.
According to Michael Page International's Employee Intentions Report, many professionals in Singapore are looking to increase their remuneration in order to keep up with the rising cost of living. If the domestic economy strengthens over the next six to 12 months, employers will be under increasing pressure to raise salary levels.
Here's more from Employee Intentions Report:
For some 42% of respondents, meeting the growing cost of living with their current salary is the issue of most concern over the next 12 months. This is of particular concern to professionals in the areas of healthcare and life sciences (49%).
Survey respondents ranked the prospect of another economic downturn as their second highest concern for the next six to 12 months (26%). This is due in part overseas markets like the United Kingdom to ongoing economic uncertainty in key and the United States.
Sales and marketing professionals (33%) are particularly concerned about the possibility of another economic downturn, most likely due to the downsizing that occurred in these sectors during the Global Financial Crisis period.