How globalisation affects Singapore's unit labour costs in the manufacturing sector

• Main Authors: Thomasz, Ryan Joel, Chua, Jeremy Da Kun, Lim, Melissa Yi Jie, Chew, Soon Beng
• Other Authors: School of Social Sciences
• Format: Article
• Language: English
• Published: 2022
• Subjects: Social sciences::Economic development; Globalisation; Unit Labour Costs
• Online Access: https://hdl.handle.net/10356/160199
• Institution: Nanyang Technological University

Given the scale of how globalisation has transformed our industries, it was imperative for us to explore if success in interconnected markets rely solely on sustaining low unit labour costs (ULC). While low ULCs are conventionally equated with constrained wage growth for workers and high labour prod...