BNM: KL Folk Living Below Median Wage
Bank Negara wants employers to provide a living wage that better reflects the cost of living in capital Kuala Lumpur.
In the report commissioned by the central bank, a survey showed that in Kuala Lumpur, the provisional estimates of a living wage ranged between RM2,700 and RM6,500 a month.
The bank said the living wage for a single adult was RM2,700 a month; RM4,500 a month for a couple without children, and RM6,500 a month for a couple with two children.
But it added that a living wage could only be affective if employers set a realistic and sustainable level.
The bank said the living wage estimates in Kuala Lumpur were below the median income of RM9,073, emphasising that up to 27% of households earned below the living wage.
It also said that wage pressure on employers could also intensify if high-wage workers insist on maintain the same wage differential with low-wage workers as before.