Just as I was talking about how salaries didnt increase very much, the saturday chinese papers carry the above headlines "Last year's salaries is the highest in 6 years". The areas with the highest increase are in workers with specialised skills. Average salaries for professionals have risen to $2000 compared to $1850 10 years back, While lower skill works' salaries eg. cleaning workers have dropped from $860 to $600.
Component of the increase is due to rise in basic salaries of 3.6% and counting in 2.18 months of bonuses.. However the papers just mention that the inflation rate is 1% last year, so the real increase in wage is 3.5%.The increase is all well and good. But let us not forget that there was also pay freeze, pay cuts since the financial crisis, retrenchment, and restructuring. Hence,in my cynical opinion, this increase is hardly anything to celebrate by.
Furthermore, costs did increase over the years. Lets just take the simple GST hike for example. From 3% to 5% and now 7%. Just counting the increase from 3%-7% over the past 6 years, the increase in GST ALONE is 4%.
What's my point? Well, statistics aside (I am horribly bad at it anyway), its good salaries did increase, however costs still increase alot more. And if skillset doesnt increase , then the sad reality is salaries would just go down, like the case of cleaning workers.
Hence, headlines are just sensational, but truth is between the lines.
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Three statisticians went out hunting, and came across a large deer. The first statistician fired, but missed, by a meter to the left. The second statistician fired, but also missed, by a meter to the right. The third statistician didn't fire, but shouted in triumph, "On the average we got it!"
Thus, there are three kinds of lies: lies, damned lies, and statistics.
The other reason why cleaner's pay dropped could be because of increase in supply. Noticed that cleaners are mostly retirees? With an aging workforce, that's not so hard to find now......
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