Budget 2024 debate: Melvin Yong on support for lower-wage workers
In Parliament on Tuesday (Feb 27), MP Melvin Yong highlighted the anxieties that many Singaporeans are facing in the current employment climate, with preliminary data from the Ministry of Manpower showing that retrenchments have more than doubled in the past year. The number is expected to rise even further, he added. He pointed out how lower-wage workers can be better supported by extending the Progressive Wage Model (PWM) to other sectors. He said from 2022 to 2028, workers covered by the PWM can expect cumulative wage increases of up to 80 per cent and evidence has shown that the scheme does not lead to job losses. Instead, the PWM has become a pivotal component of Singapore’s strategy in pursuing sustainable income growth and plays a crucial role in uplifting the earning potential of workers across a spectrum of sectors and occupations. Mr Yong also spoke about exploring the Career Progression Model for skilled professions.
In Parliament on Tuesday (Feb 27), MP Melvin Yong highlighted the anxieties that many Singaporeans are facing in the current employment climate, with preliminary data from the Ministry of Manpower showing that retrenchments have more than doubled in the past year. The number is expected to rise even further, he added. He pointed out how lower-wage workers can be better supported by extending the Progressive Wage Model (PWM) to other sectors. He said from 2022 to 2028, workers covered by the PWM can expect cumulative wage increases of up to 80 per cent and evidence has shown that the scheme does not lead to job losses. Instead, the PWM has become a pivotal component of Singapore’s strategy in pursuing sustainable income growth and plays a crucial role in uplifting the earning potential of workers across a spectrum of sectors and occupations. Mr Yong also spoke about exploring the Career Progression Model for skilled professions.
