Wage Growth Lags Amid Productivity Gains

Dr Geoffrey Williams, Economist, Founder & Director of Williams Business Consultancy

26-Mar-25 07:45

Wage Growth Lags Amid Productivity Gains

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Bank Negara’s 2024 report shows labour productivity rose to 2.4%, but wage growth slowed to 2.9%. Despite a recovering job market, conservative wage-setting driven by economic uncertainties raises concerns. Questions remain about the minimum wage’s broader impact and issues in wage stagnation that could affect talent retention and competitiveness. Dr. Geoffrey Williams, an Economist, Founder & Director of Williams Business Consultancy shares gives us some clarity on this matter.

Image Credit: Shutterstock.com

Produced by: Aisalli Ayub

Presented by: Wong Shou Ning, Keith Kam, Aisalli Ayub

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Categories: economy, the workplace, markets, government, financial wellness

Tags: wage growth, employment, labour productivity, wage stagnation, unions,

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