Wages too low, says Bank Negara

ALTHOUGH the income levels of Malaysians have increased significantly over the years, voices of discontent are mounting over the decline in purchasing power.

Low and depressed salaries are among the grouses of executives and non-executives amid the apparent lifestyle changes of Malaysians.

With the rising cost of living, they lament that there is now less room for long-term savings and investments.

According to the Employees Job Happiness Index 2017 survey by JobStreet.com, one in three Malaysian employees want a pay rise, with rewards constituting 52% of the domestic workforce’s motivation to work.

..

As much as Malaysians support higher wages, which can outgrow escalating living cost, the bigger question is whether their employers are willing to increase wages significantly.


..

Based on data from the Statistics Department’s Salaries and Wages Survey Report 2016, most Malaysian workers are still paid significantly lower than the desired amount to achieve “minimum acceptable living standard”, at least in Kuala Lumpur.


https://www.thestar.com.my/business/business-news/2018/03/31/wages-too-low-says-bank-negara/


Kuala Lumpur living wage below median of RM9,073



Bank Negara is recommending that employers provide a living wage that better reflects the cost of living.


https://www.thestar.com.my/business/business-news/2018/03/29/kuala-lumpur-living-wage-below-median-of-rm9073/

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