fbpx
Connect with us

Lifestyle

M’sian Economists Say That Minimum Wage Needs To Be Around RM2.5k-RM2.9k To Afford Price Hike

Published

Collage 17 2
Source: Rumah Migran & Daily Addict

Follow us on Facebook, Youtube, Twitter, and Instagram for the latest stories and updates daily.

With the continuous hike in prices, some of us may have wondered if we can ever make it with our current monthly wages. Some have even started planning financially on how to cope with the uncertainties with the money that they have.

The question of HOW MUCH is enough has never had its precise answer but economists in Malaysia seem to have found one. According to a report by Sin Chew, economists in Malaysia believe that the basic salary will need to be readjusted to between RM2,500 and RM2,900 in order to cope with the rising inflation and the uncertainties in price hikes.

4 4

That’s at least RM1,000 more than the current minimum wage!

Minimum wage = living expenses

A professor of economics from Sunway University Business School said that the cost of living has been increasing due to the supply chain and the rising commodity prices.

He gave an example by saying the price of low-quality rice is still under control but not the price of high-quality rice which has seen an increase, as well as the prices of some vegetables.

Lead Harga Sayur Naik

“The current inflation rate does not reflect the living cost of ordinary people,” he added.

He also said that the prices people pay when they dine in at restaurants have also gone up to as much as 50%.

“A decent monthly wage needs to reflect on the person’s average living expenses, including a comfortable life and yearly travel.”

It’s a miserable life

In the meantime, a professor of Resource & Environmental Economics from Universiti Utara Malaysia believes that a monthly wage lower than RM2,500 will make people go miserable under these conditions when everything is about PRICE HIKE.

“Wages should provide for shelter, food, transportation and an affordable health care,” he said.

Bukit Bintang Junction 1

He also said that the inflation rate in Malaysia should have been around 10 to 20% and not 2 to 3% as the government said.

While the minimum wage of RM2,500 may seem distant, or impossible, do you think that amount of minimum wage will finally make us live comfortably with the uncertainties?

 

Also read: Politician Says Minimum Wage Should Be Revised Again To At Least RM2k To Help Youths/Fresh Grads

Collage 1 3

Source: Rumah Migran
Source: Kosmo
Source: Daily Addict

Follow us on Facebook, Youtube, Twitter, and Instagram for the latest stories and updates daily.



Just In

My Post 1 2024 04 15T161432.919 My Post 1 2024 04 15T161432.919
News20 hours ago

A Deadly Whooping Cough Outbreak is Spreading Around the World & Here’s What You Need to Know!

In April of last year, it was revealed that Sabah had recorded a total of 76 cases of Pertussis (also...

Feat Image Suspect Klia Shooter Arrested Feat Image Suspect Klia Shooter Arrested
News20 hours ago

BREAKING: KLIA Shooter Has Been Arrested in Kota Bharu

The Royal Malaysia Police (PDRM) has announced that the 38-year-old suspect who fired a gun at the Kuala Lumpur International...

My Post 1 2024 04 15T142809.322 My Post 1 2024 04 15T142809.322
News21 hours ago

M’sians Share Their Disappointment Over How EASILY KLIA Shooting Suspect Managed to Escape

Shots were fired at the Kuala Lumpur International Airport (KLIA) on April 14 (Sunday), after a man attempted to shoot...

Article Featured Image 18 Article Featured Image 18
News2 days ago

This is Nur Hadith, The Bodyguard Who was Shot Protecting His VVIP Client

The shooting at KLIA case took everyone by surprise this morning, and left a lot of people worried for the...

Article Featured Image 13 Article Featured Image 13
News2 days ago

KLIA Shooting: 5 Updates About What Happened So Far

Shooting cases are rare in Malaysia, especially due to our country’s very strict gun control laws. So, when something like...

Article Featured Image 11 Article Featured Image 11
News2 days ago

Police on A Manhunt for This Gunman, Urge M’sians to Contact Them If They Have Info

Police has alerted that the man, now identified as Hafizul Harawi, is considered arm and dangerous. The 38-year-old is being...

Klia Shooting Suspect Klia Shooting Suspect
News2 days ago

UPDATE: KLIA Shooting Suspect Had Criminal Record, Harassed Wife Twice Before Incident

By now, many would know that a Malaysian man had fired 2 shots at his wife at 1:30 am in...

Article Featured Image 10 Article Featured Image 10
News2 days ago

Monk Caught in Bed With Politician is Her Adoptive Son, Gets Millions of Baht from Her

The news that broke Thailand recently seems to keep getting crazier and crazier! In a viral video captured by a...

Announcement

Latest Videos



TRENDING TODAY