Median monthly income of Singaporeans rises 6.3%

The median monthly income of Singaporeans rose to $3,070 last June, up from $2,887 the year before. That was an increase of 6.3 per cent. SMU economist Hoon Hian Teck said that the data could possibly show that Singaporean wages were not depressed by the influx of foreign workers in the last five years. This could be due to increased investments in machinery and equipment by companies that prevented productivity from falling.