Singapore’s virus-hammered economy shrank almost 43 per cent in the second quarter, according to official data. Photo: AFP Singapore’s virus-hammered economy shrank almost 43 per cent in the second quarter, according to official data. Photo: AFP
Singapore’s virus-hammered economy shrank almost 43 per cent in the second quarter, according to official data. Photo: AFP

Singapore’s DBS: Covid-19 fallout could widen income gap, threaten workers aged 35-44

  • More than 300,000 workers saw salaries shrink by over 10 per cent between March and May, according to anonymised data from 1.2 million accounts

  • The island nation’s largest bank found that about half of those affected earned less than US$2,190 a month

Topic |   Coronavirus pandemic
Singapore’s virus-hammered economy shrank almost 43 per cent in the second quarter, according to official data. Photo: AFP Singapore’s virus-hammered economy shrank almost 43 per cent in the second quarter, according to official data. Photo: AFP
Singapore’s virus-hammered economy shrank almost 43 per cent in the second quarter, according to official data. Photo: AFP
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