SeaPRwire

National Wages Council to convene on April 19, will announce guidelines by end-May

aseanpr
2 minutes

SINGAPORE - The National Wages Council (NWC) will convene next Monday (April 19) to relook guidelines on wage- and employment-related issues amid the Covid-19 pandemic. In its deliberations, it will take into account the domestic and global economic situations and outlook given the ongoing Covid-19 pandemic, as well as Singapore's pace of recovery, the Ministry of Manpower (MOM) said on Wednesday. The NWC - which is chaired by DBS Bank chairman Peter Seah and comprises representatives from the Government, employers and unions - aims to announce the updated guidelines by the end of next month. The high-level council meets every year to update guidelines on wage and employment matters. Last year, the NWC, in a rare move, reviewed its wage guidelines for a second time as the coronavirus outbreak took its toll on the labour market. It was only the fourth time since being set up in 1972 that the council had been convened twice in the same year. The previous times came amid major economic crises as well - in 2009, 2001 and 1998. More on this topic Related Story Employers may implement temporary wage cuts to save jobs: National Wages Council Related Story askST: Relooking pay guidelines a...

SeaPRwire

Firms restoring wages amid Singapore’s economy recovery: Experts

elean
1 minute

SINGAPORE- Companies are restoring the wages of workers as the economy gradually recovers, experts said on Tuesday (March 2), after a report by DBS Bank found that the financial health of Singaporeans improved in the second half of last year. The report revealed that the share of customers who experienced a significant fall in income from pre-pandemic levels fell to 19 per cent last December, a decrease from 26 per cent last May. Please subscribe or log in to continue reading the full article. Get unlimited access to all stories at $0.99/month Latest headlines and exclusive stories In-depth analyses and award-winning multimedia content Get access to all with our no-contract promotional package at only $0.99/month for the first 3 months* Subscribe now *Terms and conditions apply.

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Staying afloat amid pandemic

elean
2 minutes

What is the Jobs Support Scheme? Deputy Prime Minister Heng Swee Keat said last Tuesday that wage subsidies under the Jobs Support Scheme (JSS) will be extended by up to six months to help businesses that remain badly hit by the Covid-19 pandemic to retain workers. Under the scheme, subsidies ranging from 10 per cent to 30 per cent will cover the wages of local workers from April to September to help them stay employed during the pandemic. Firms in sectors worst hit by the crisis, such as aviation, aerospace and tourism, will receive 30 per cent of wages paid from April to June in September. They will also receive 10 per cent of wages paid from July to September in December. Firms in industries also hit hard by the pandemic in the next tier, including food services, retail, marine and offshore, as well as arts and entertainment, will receive 10 per cent of wages paid from April to June. They will receive this payout in September. The new tiered wage subsidies in the latest extension, which cost the Government $700 million, apply to the first $4,600 of gross monthly wages paid to each Singaporean or permanent resident employee. This is the latest extension under the JSS to help empl...