The Economy of Singapore
Workers, Foreign Labour and Inequality
Singapore relies heavily on foreign workers and has no minimum wage, using targeted schemes for lower-wage citizens.
The success story has social challenges.
Foreign workforce
Roughly a third of the workforce are foreigners, from skilled professionals to construction and domestic workers.
Wages
There is no statutory minimum wage. The Progressive Wage Model sets wage ladders in certain sectors.
Inequality
Income inequality is relatively high for a rich country, and living costs, particularly housing, weigh on many.
Migrant conditions
Migrant workers’ dormitories drew scrutiny during the pandemic.
He earns far more than at home but lives in shared dormitory housing away from families.
Singapore has notable inequality.
- A third of workers are foreign.
- No minimum wage exists.
- The PWM sets wage ladders.
- Inequality and living costs are concerns.
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