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

7 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 industries¹, and (b) nominal monthly earnings and income growth for residents are in Figure 1 and Figure 2 below, respectively².