THE CHARTIST: SINGAPORE HITS RECORD HIGH PAY AND LOWEST UNEMPLOYMENT RATE
The city’s average wages reached an all-time high of S$5,596 per month in almost 28 years, up from its record low of S$1,302 per month in the second quarter of 1989. Recorded in the last quarter of 2017, the highest average monthly wage is expected to be on an upward trend until July 2018.
Analysts at Trading Economics reported that a typical Singaporean’s paycheck averaged at S$3,272.93 per month from 1989 to 2017. Meanwhile, the city’s seasonally adjusted unemployment rate went down to 2% from the previous period’s 2.1%, becoming the lowest jobless rate since March 2016. Analysts said that unemployment rate averaged 2.44% from 1986 to 2018, with an all time high of 6% in the first quarter of 1986 and a record low of 1.4% in the second quarter of 1990.