Singapore workers to get 2.7% pay increase in 2018

The border of Brazil and Argentina—the Iguazu Falls

"Productivity growth in the United Kingdom has remained low in recent years so employers have not been able to offer the level of salary increases that they have been able to in the past", he said.

"Productivity growth in the United Kingdom has remained low in recent years so employers have not been able to offer the level of salary increases that they have been able to in the past", said the consultancy's production manager Steven Kilfedder.

Meanwhile, business management consultancy ECA International said that United Kingdom employees were expected to receive a 0.2% real-terms salary increase in 2018, 15 times less than their European peers.

ECA's projected wage growth ranks Singapore ninth out of the 20 countries surveyed in the Asia-Pacific region and 14th globally. The city sits at 25th in the global ranking in terms of real salary increase. "This reflects the fact that the Singapore economy continues to perform well on the back of global economic recovery".

"President Macri's market-friendly policies are expected to bear fruit in Argentina next year, causing inflation to cool and bringing respite to hard-pressed workers after years of low or negative real salary increases", Mr Quane added.

But after factoring in inflation, which is expected to be 2.2 per cent next year, the real wage increase diminishes to 1.8 per cent, placing the city at fourth last in the Asia-Pacific region.

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Secretary for Labour and Welfare Dr Law Chi-kwong echoed Quane's views, arguing Hong Kong did not fare so badly when compared with other developed economies. Real wage growth in Germany is expected to be 1.2 per cent, French workers may see rises of 0.9 per cent, while Britain will likely get the lowest rate of real wage growth in the region at 0.2 per cent.

The city has enjoyed a low unemployment rate in recent years. At the other end of the table, those in Australia will see the lowest increase in real terms, at 0.8%.

Its Salary Trends Reports analyse current and projected salary increases for local employees in 72 countries across the world.

The United States and Canada are set to remain steady, with real wages growing at 0.9 and 1.1 per cent respectively.

Between August and September every year, human resources consulting firm ECA International surveys multinational companies around the globe to gauge salary adjustments for the year ahead.

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