U.S Labor Dept: Singapore has steepest productivity decline and lowest increase in hourly wages in 2007 – 2008

OPINION

According to a shocking press release from the U.S. Department of Labor last year, Singapore experienced the steepest  decline in productivity among 17 developed economies in the world in the years 2007 – 2008.

Not only that, it had the lowest increase in the hourly compensation per unit labor cost and one of the highest increase in manufacturing unit costs as well.

The detailed article was not reported by the Singapore media. Neither was it mentioned by Finance Minister Tharman last week which would have greatly embarrassed the PAP government.

Steepest productivity decline

Among the 17 countries, the Republic of Korea and the United States had the largest increases (1.2 per cent each) while Singapore had the steepest decline (-6.6 per cent):

Second highest increase in manufacturing costs

Singapore has the second highest increase in manufacturing unit costs when the figures are expressed in national currency units at 7.5per cent after Denmark’s 8.3 percent:

 

Lowest increase in hourly wages

Hourly compensation in manufacturing increased in 2008 in all 17 economies. The largest increase was in Norway (+ 5.6 percent), followed by Spain (+4.8 percent).

Singapore has the lowest increase at only 0.5 percent:

Second highest increase in the number of manufacturing hours

In 2008 total manufacturing hours worked fell in 9 economies with the greatest decline in the United States at -3.9 per cent. Denmark has the largest increase at +2.7 per cent followed by Singapore at +2.6 per cent as shown by the chart above.

 

Analysis

Singapore’s dismal performance in labor productivity is a direct result of the PAP’s short-sighted liberal immigration and pro-foreigner policies which help companies take the easy way out keeping labor costs down artificially by employing cheap foreign workers instead of investing in innovation and research to boost productivity.

As noted in the graph below, Singapore’s labor productivity took a plunge from 2004 onwards when the inflow of foreigners started to pick up:

[Source: Kojakbt, 3in1kopitiam forum moderator]

Extracted from temasekreview.com

And teo chee hean mentioned last week that our productivity has gone up significantly the past 10 years. Pat on their backs for the success.

I prefer articles that quote their sources, and how they measure the statistics.

Nothing surprising about the decline in productivity.

 

It's was always about cost first for the past few years.

 

Cheaper, better, faster.

And teo chee hean mentioned last week that our productivity has gone up significantly the past 10 years. Pat on their backs for the success.

Originally posted by skythewood:

I prefer articles that quote their sources, and how they measure the statistics.

Well, source is pretty clear, aint it? You can read more here: http://www.bls.gov/news.release/prod4.nr0.htm

You can also check for more source of info from the Bureau of Labor Statistics, US Labor Department.

the americans are really very funny.

look at their national debt.

 

Originally posted by Rock^Star:

And teo chee hean mentioned last week that our productivity has gone up significantly the past 10 years. Pat on their backs for the success.

 

I thought they are saying productivity falling that is why they are making changes and setting up that new ESC committee to reverse the sliding productivity.

 

How come different ministers keep saying different things?

 

Seriously, do these ministers meet each other to discuss these matters?

 

Must apply the spurs to the buttocks of Singaporeans, they not working enough hours. If we continue with this government, we would probably need to work 100 hours week.

 

 

If workers are working their asses off, yet productivity is a dismay figure, then the only other reason could be resource allocation. The current PAP government has problems allocating resources to border the PPF.

 

 

Originally posted by charlize:

 

I thought they are saying productivity falling that is why they are making changes and setting up that new ESC committee to reverse the sliding productivity.

 

How come different ministers keep saying different things?

 

Seriously, do these ministers meet each other to discuss these matters?

they are embarassing each other, had it been the press of a true democracy, they would have been literally slaughtered.

This Article is just sad. It is quite valid in the facts and such.

This issue is really huge. Its amazing how its kept under wraps.

We really need to bring this up. Though no doubt it may be blocked... we still have got to try.

Originally posted by charlize:

 

I thought they are saying productivity falling that is why they are making changes and setting up that new ESC committee to reverse the sliding productivity.

 

How come different ministers keep saying different things?

 

Seriously, do these ministers meet each other to discuss these matters?

thats why LHL said they have to organized to improved productivity maybe that is what he means he needs to get all minister on the same page.....

Maybe they should get together with George Bush Junior to form a study group and understand Economics 101........

 

This present batch of millionsters are a bunch of wayang.

Form a committee, collect some data and use past solutions.

If one millionsters cannot do it, forming a group does not make any difference.

Originally posted by Medicated Oil:

 

If one millionsters cannot do it, forming a group does not make any difference.

Just ask any one who have worked with men graduated from Green, Blue and White.

They are holding key position, taking high pay, concerned about scoring points by holding meeting and crapping on minute stuff.

When they encountered any real issues, they are nowhere to be seen and their subodinates will be delegated to handle the issues.

If the issues are resolved, they will come forward shamelessly to claim credit.

If the issues are not resolved, their subodinates are blamed for it.

Sin City is infested with these incompetent leeches in various sectors.

It is a joke that one of these graduates are tasked to head a committee to increase productivity.

i think many are forgetting that if this happens plus low productivity, add a few of domestic issues that affect citizens here, the Quality of the Goods produced here is also drastically badly affected.

it also means more sub-standard quailty stuff would start to appear more frequently.

but in the untimate end, they ended up adding a ton of headaches not only to us, but in the end themselces too.

 

 

Just ask any one who have worked with men graduated from Green, Blue and White.

They are holding key position, taking high pay, concerned about scoring points by holding meeting and crapping on minute stuff.

When they encountered any real issues, they are nowhere to be seen and their subodinates will be delegated to handle the issues.

If the issues are resolved, they will come forward shamelessly to claim credit.

If the issues are not resolved, their subodinates are blamed for it.

Sin City is infested with these incompetent leeches in various sectors.

It is a joke that one of these graduates are tasked to head a committee to increase productivity.

yea.. i personally serve under some. i bet there are many in police force, immigration as well. some of their imigration policy are hard to understand. they grant PR to PDMM but deprive the wife of singaporean men the application? singaporean are made to look cheap in front of foreigners. many of foreigners friends are puzzle why singapore has such funny imigration policy. need we need to look further?

We are becoming like north korea or maybe even stalinist soviet republic and maoist china. Remember japan in WWII? Despite heavy losses, their papers still sang praises of their victories back home, with the citizens in full ignorance.

based on all these graphs, charts and numbers alone, its time for complete change.

*self deleted*

*self deleted*

Originally posted by Rock^Star:

We are becoming like north korea or maybe even stalinist soviet republic and maoist china. Remember japan in WWII? Despite heavy losses, their papers still sang praises of their victories back home, with the citizens in full ignorance.

 

Scary.

 

But true.

Originally posted by charlize:

 

Scary.

 

But true.

Deaf frog.