Growth???

[brapodam]

Thats why i am trying to find out (or does anyone knows/done) the Ratio of Income growth slow rate over GDP Growth rate! As we can see Growth over the yrs but not for the Income side!
Are we really underpaid? as some will say we are living the First World Society but drawing a 3rd World Wages!

I have also come across people asking me "hey how's chinkapore now?" :bsmilie:

I don't think our wages so jialat lah, 3rd world wages is an exaggeration. I think people feel pain not cos wages not going up as fast as GDP, but wages not going up as fast as costs of living :think:

 

[Sion]

so if there is negative gdp growth, you will ask for a pay cut?

When there is GDP negative growth company also cuts aircon after 12pm.

All have to work in sweat.

 

[Yutaka Go]

so if there is negative gdp growth, you will ask for a pay cut?

My company have lots of shutdown (force to clear leave) last year because of negative growth.

My co-worker 7 days annual leave become -14 days annual leave.

My 21 annual leave become zero

That is how companies deal with negative growth, either shutdown or lay off the workers

 

[night86mare]

Our consumerism mentality, even not as much money, also won't cut spending one....
Either that, or its a wealthier crowd you are hanging around with :bsmilie:

not talking about the people i know - talking about observations walking around town.

 

[zero o]

Sometimes people spend not because they can afford to spend, but rather they have confidence that they will not lose their jobs, thus will be able to pay off the loans or able to get by with less savings for a rainy day. The low interest rates are also a major contributing factor to durable goods purchases.

What is important is to spend within your own limits and not follow the Jones'. The Jones either have a million dollars in the bank or they are a million dollars in debt (and dont care about it !)

Growth rate varies across the board for different sectors, some are expanding, some are contracting. Numbers only tell part of the story.

 

[scanner]

I can see many people is using future money.....
Don't assume your job will be there forever for you...:devil:
The next Financial crisis might hit you even before you know! :think:

 

[thenomad]

Thats why i am trying to find out (or does anyone knows/done) the Ratio of Income growth slow rate over GDP Growth rate! As we can see Growth over the yrs but not for the Income side!
Are we really underpaid? as some will say we are living the First World Society but drawing a 3rd World Wages!

Our pay rises can never be proportionate to the GDP growth. Companies constantly look for ways to increase their profits, that's the basis of the Capitalist system.

Just like the world oil price. When it goes up (equivalent GDP negative growth), petrol stations pump up their prices (pay freeze/cut). But when it goes down (GDP positive growth), the petrol prices stay almost the same, only slightly lower (slight pay increase). Guess who earned the extra profits?

 

[Royale With Cheese]

Our pay rises can never be proportionate to the GDP growth. Companies constantly look for ways to increase their profits, that's the basis of the Capitalist system.

but got one company, all wear white, pay peg to GDP? :dunno:

 

[Simon_84]

but got one company, all wear white, pay peg to GDP? :dunno:

i think you mean the lightning company ?
well, their words is as good as the law.