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.

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