Growth in Labour Productivity and Monthly Earnings of Residents from 2016 to First Half of 2024

Mr Patrick Tay Teck Guan asked the Deputy Prime Minister and Minister for Trade and Industry in each year from 2016 to 2023 and for the first half of 2024 on a quarter-on-quarter seasonally-adjusted basis, in nominal terms (a) what is the growth in labour productivity of the overall economy excluding construction and other services industries as measured by (i) value-added per worker and (ii) value-added per actual hours worked; and (b) what is the growth in the average (i) monthly earnings of residents and (ii) gross monthly income among full-time employed residents including CPF contributions by employers.

Mr Gan Kim Yong: Data on (a) nominal labour productivity growth for the overall economy excluding construction and other services industries 1 , and (b) nominal monthly earnings and income growth for residents are in Figure 1 and Figure 2 below, respectively 2 .

Note(s) to Question No(s) 7:

1 Other services industries consists of the following sectors: (a) public administration and defence; (b) education; (c) health and social services; (d) arts, entertainment and recreation; and (e) other services – others.

2 For both sets of data, year-on-year growth rates are provided as quarter-on-quarter seasonally-adjusted growth rates are not available.