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14-08-2023, 08:18 AM
Chor Khieng Yuit
Senior Correspondent
UPDATED 3 HOURS AGO
SINGAPORE - For the second year in a row, gig workers are spending more than what they are actually earning, and thus have had to tap their savings to cover their expenditure needs as they try to cope with the rising costs of living
......
The annual study was conducted in May and covered 1.2 million retail customers whose salaries were paid into their DBS accounts.
......
The 2023 annual study by DBS found that the expense-to-income ratio for platform workers rose further to 112 per cent in May 2023, from 107 per cent a year ago.
This means that for every dollar of income, these workers incurred $1.12 of expenses in May 2023 compared with $1.07 of expenses a year before.
In contrast, ...... the bank’s median customer has an expense-to-income ratio of 57 per cent, which means he spends 57 per cent of his income in May 2023.
......
In 2022, there were 88,400 platform workers in Singapore, comprising about 3.6 per cent of the resident labour force.
That is a jump of 21 per cent from 2021 when there were 73,200 platform workers
https://www.straitstimes.com/business/pl...-dbs-study
Senior Correspondent
UPDATED 3 HOURS AGO
SINGAPORE - For the second year in a row, gig workers are spending more than what they are actually earning, and thus have had to tap their savings to cover their expenditure needs as they try to cope with the rising costs of living
......
The annual study was conducted in May and covered 1.2 million retail customers whose salaries were paid into their DBS accounts.
......
The 2023 annual study by DBS found that the expense-to-income ratio for platform workers rose further to 112 per cent in May 2023, from 107 per cent a year ago.
This means that for every dollar of income, these workers incurred $1.12 of expenses in May 2023 compared with $1.07 of expenses a year before.
In contrast, ...... the bank’s median customer has an expense-to-income ratio of 57 per cent, which means he spends 57 per cent of his income in May 2023.
......
In 2022, there were 88,400 platform workers in Singapore, comprising about 3.6 per cent of the resident labour force.
That is a jump of 21 per cent from 2021 when there were 73,200 platform workers
https://www.straitstimes.com/business/pl...-dbs-study
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