Private sector salaries rose 5.3% last year, says report

Salaries in the private sector grew 5.3% on the back of a tight labour market and improved economic conditions last year, up from 4.2% in 2012.

Taking into account lower inflation, real total wages rose by 2.9% in 2013, after declining by 0.4% in 2012, according to the latest report on wage practices released by the Ministry of Manpower’s Research and Statistics Department.