1st May 2023
Dear Fellow Singaporeans,
- As we celebrate Labour Day this year, let us take a moment to reflect on the contributions that Singaporeans have made to the growth and success of our nation. Our workforce is the backbone of our economy, and our perseverance and dedication have helped propel Singapore forward, especially now as we come out of a pandemic.
- During our door-to-door visits, one of the primary concerns that residents have shared with us is the discrepancy between salaries and the rising cost of living.
- While the government has implemented measures such as the Workfare Income Supplement to assist low-income earners, the rising cost of living still affects many Singaporeans, particularly those in the middle-income bracket.
- There is still a need for continued efforts by the government to ensure that every Singaporeans can afford a quality standard of living in a city that prides itself on being a global hub of commerce and innovation.
- Although the median nominal wage of Singaporeans is often discussed in the news, it is important to pay closer attention to the real, or adjusted, wage instead. This measure of real wage is essential in determining the purchasing power of workers as it reflects the actual amount that can be purchased with their earnings.
- When real wages fail to keep pace with inflation, workers may face difficulties in meeting their basic needs. This can cause financial stress, reduce their standard of living, and even lead to poverty. It is therefore crucial to focus on the real wage to ensure that workers receive their fair compensation to keep pace with inflation. By doing this, we can help ensure the financial stability and security of our workforce.
- While we acknowledge that progress has been made, there are still concerns that require attention. The issue of work-life balance has become more prominent, particularly as many Singaporeans have transitioned to hybrid work arrangements.
- However, for those whose job does not allow for such flexibility, employers can offer wellness programmes, including mental health support, to assist in managing stress levels. With the government’s support to lead on these initiatives, we can make strides towards prioritising the well-being of our workforce.
- Despite the challenges we face, it is important to recognise and celebrate the progress we have made as a nation. We should remain optimistic that we can overcome these obstacles together and build a stronger, more resilient Singapore that truly values and supports its workforce.
- Happy Labour Day to all Singaporeans, may we continue to strive towards a brighter future for ourselves and our communities.
Singapore People’s Party