Date: Sat, 22 Aug 2009 11:14:23 -0700 (PDT)
Local: Sun, Aug 23 2009 2:14 am
Subject: Re: Singapore = Expensive and LOW pay
On Aug 22, 11:35 am, "truth" wrote:
> truth comment: another reality in lhl's eden has emerged.sincity is not
> only expensive but the workers are exploited.http://www.asiaone.com/Business/News/My%2BMoney/Story/A1Story20090821...
> Want that iPod faster? Work in Tokyo then
> SINGAPORE may be the second most expensive city in Asia after Tokyo,
> but employees here are only the fifth highest wage earners in the region, a
> study has found.
> To indicate wage levels, the UBS survey looked at how long a person
> has to work to buy an 8GB iPod nano player,
> In Singapore, it takes 27.5 hours - but in Tokyo it takes 12 hours,
> and in Hong Kong it takes 19 hours.
> On a global scale, Singapore ranked 40th in terms of gross wages, down
> two notches from 38th in 2006, the last time the study was conducted.
> In 18th place worldwide, Tokyo workers are Asia's highest earners,
> followed by Hong Kong (37th, up from 40th in 2006), Seoul (38th, down from
> 32nd), Taipei (39th, from 36th), Singapore, Shanghai (59th, same as in
> 2006), Beijing (64th, from 65th) and Mumbai (73rd, from 67th).
> Compiled in a report titled Prices and Earnings, the findings emerged
> from surveys conducted in March and April by local UBS employees, members of
> student organisation AIESEC, chambers of commerce, consumer organisations
> and selected individuals.
> The wage and salary data covers 14 different occupations including
> building labourer, engineer, cook, bank credit officer and primary school
> teacher. They represent a cross-section of the workforce in the industrial
> and services sectors.
> Employees in Copenhagen, Zurich, Geneva and New York have the highest
> gross wages, in that order. In contrast, the average employee in Delhi,
> Manila, Jakarta and Mumbai earns less than one-fifteenth of Swiss hourly
> wages after tax.
> In terms of cost of living, excluding rent, Oslo remains the most
> expensive city in the world, followed by Zurich and Copenhagen. The prices
> were calculated based on a reference basket of 122 different products and
> services. London dropped dramatically to 21st position, from the second most
> expensive city in 2006. Singapore was ranked the 24th most expensive
> globally, up from 32nd position in 2006.
> People in Asia and the Middle East generally spend more hours at work
> than those in Europe. On average, Singapore employees work 2,088 hours a
> year - higher than the global average of 1,902.
> 'Overall, the most hours are worked in Cairo (2,373 per year),
> followed by Seoul (2,312),' the UBS report said. 'Workers in Doha, Dubai and
> Manama also rack up long hours, averaging 2,210 per year - 308 more than the
> international average.
> 'There are significant differences within regions, too. Employees work
> considerably more in Hong Kong (2,295 hours) and Seoul (2,312 hours) than in
> Tokyo (1,997 hours) and Shanghai (1,946 hours).'
> The survey was conducted in 73 cities.
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Well, this is a very good and simple way to indicate wage levels is by
looking at how long a person has to work to buy an 8GB iPod nano
In similar vein, we should be able to carry out a survey on MIw
income in buying a high end condomimium worth, say, 1.5 million
For the president and MM, they can buy 2 condo each year. For the Pm,
he will be able to own 2 condo per year, too. For the Minsters,
earning between 1 to 3 million, they will be able to 1 or 2 condo,
If each Ministers work for 20 years they wil be abl to own at least a
bungalow worth 10 milllion each.
If there is 2 cycles of change of ministers, there will be twice the
number of available bungalows will be held by them. By the 5th cycles
of change of ministers and below, nearly all the available in
Singapore will be owned by them and the rich people. There will
nothgin left for the poor and middle income or the not-so-rich to
reach or aim for.anymore at all.