Real average earnings grew a miniscule 0.7%

Skyrocketing inflation and an ever-tightening labor market to be blamed for the pittance of progress.

The deterioration worsened in the fourth quarter of 2011, which saw real average earnings dip 1.4% after just a 0.2% decline in the preceding quarter.

On a yearly comparison, the real average earnings growth of 0.7% in 2011 was way below the 2.7% improvement in 2010.

"Nominal average (mean) monthly earnings rose by 4.0% over the year in the fourth quarter of 2011, continuing the recent trend of slowing earnings growth starting from the second quarter. After adjusting for inflation, the real average earnings declined by 1.4% in the final quarter of 2011, after dipping by 0.2% in the preceding quarter," said the Ministry of Manpower (MoM) in its 2011 Labor Market report.

"For the whole of 2011, nominal average earnings grew by 6.0%, after increasing by 5.6% in 2010. Weighed down by higher inflation in 2011, the real average earnings rose by 0.7%, following the gains of 2.7% in 2010," it said.

Even worker productivity became anemic in 2011, dwarfing down to 1% after a stellar 11% rise in 2010. On this front, slower economic expansion seemed to be a dragging factor.

"Labour productivity declined over the year by 0.4% in the fourth quarter, after increasing by 2.0% in the previous quarter. For the whole of 2011, overall labour productivity increased by 1.0%, after rising sharply by 11% in 2010. The moderation in productivity gains resulted from the slower GDP growth amid continuing strong employment creation," said MoM.

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