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Coffeeshop Chit Chat - Hamilah: UBS study is wrong and flawed</TD><TD id=msgunetc noWrap align=right>
Subscribe </TD></TR></TBODY></TABLE><TABLE class=msgtable cellSpacing=0 cellPadding=0 width="96%"><TBODY><TR><TD class=msg vAlign=top><TABLE border=0 cellSpacing=0 cellPadding=0 width="100%"><TBODY><TR class=msghead><TD class=msgbfr1 width="1%"> </TD><TD><TABLE border=0 cellSpacing=0 cellPadding=0><TBODY><TR class=msghead vAlign=top><TD class=msgF width="1%" noWrap align=right>From: </TD><TD class=msgFname width="68%" noWrap>Guestman551 <NOBR></NOBR> </TD><TD class=msgDate width="30%" noWrap align=right>4:18 am </TD></TR><TR class=msghead><TD class=msgT height=20 width="1%" noWrap align=right>To: </TD><TD class=msgTname width="68%" noWrap>ALL <NOBR></NOBR></TD><TD class=msgNum noWrap align=right> (1 of 5) </TD></TR></TBODY></TABLE></TD></TR><TR><TD class=msgleft rowSpan=4 width="1%"> </TD><TD class=wintiny noWrap align=right>29551.1 </TD></TR><TR><TD height=8></TD></TR><TR><TD class=msgtxt>A Gobal study by banking giant UBS - which found Singapore's workers earn less and can afford less than their counter-parts in other major cities - does not reflect the actual situation here, said MP Hamilah Yacob. She cited the reasons why the study is flawed:
1 The USB study surveyed 73 countries with very different workforce and consumption habits and therefore had to make some simplifying assumptions which led to a significant underestimation of average Singapore wages, as well as purchasing power.
2 It used a basket of European goods - like steak, frozen pizza and evening theatre tickets - to calculate price levels. These items are expensive and not part of the average Singaporean's expenditure.
Statistics and aneddotal evidence here showed the opposite: a significant jump of about 20 per cent in wages over the period. According to government estimates, the median hourly wage is now about $14 an hour, said the shameless MP.
<HR SIZE=1>Edited 3/4/2010 7:27 am ET by Guestman551
<HR SIZE=1>Edited 3/4/2010 7:29 am ET by Guestman551</TD></TR><TR><TD> </TD></TR></TBODY></TABLE><TABLE border=0 cellSpacing=0 cellPadding=0 width="100%"><TBODY><TR><TD class=msgleft width="1%"> </TD><TD class=msgopt width="24%" noWrap> Options</TD><TD class=msgrde width="50%" noWrap align=middle> Reply</TD><TD class=wintiny width="25%" noWrap align=right> </TD></TR><TR><TD class=msgbfrbot> </TD><TD colSpan=3> </TD></TR></TBODY></TABLE></TD></TR></TBODY></TABLE>
1 The USB study surveyed 73 countries with very different workforce and consumption habits and therefore had to make some simplifying assumptions which led to a significant underestimation of average Singapore wages, as well as purchasing power.
2 It used a basket of European goods - like steak, frozen pizza and evening theatre tickets - to calculate price levels. These items are expensive and not part of the average Singaporean's expenditure.
Statistics and aneddotal evidence here showed the opposite: a significant jump of about 20 per cent in wages over the period. According to government estimates, the median hourly wage is now about $14 an hour, said the shameless MP.
<HR SIZE=1>Edited 3/4/2010 7:27 am ET by Guestman551
<HR SIZE=1>Edited 3/4/2010 7:29 am ET by Guestman551</TD></TR><TR><TD> </TD></TR></TBODY></TABLE><TABLE border=0 cellSpacing=0 cellPadding=0 width="100%"><TBODY><TR><TD class=msgleft width="1%"> </TD><TD class=msgopt width="24%" noWrap> Options</TD><TD class=msgrde width="50%" noWrap align=middle> Reply</TD><TD class=wintiny width="25%" noWrap align=right> </TD></TR><TR><TD class=msgbfrbot> </TD><TD colSpan=3> </TD></TR></TBODY></TABLE></TD></TR></TBODY></TABLE>