Source: CHANNEL NEWSASIA
SINGAPORE: Households across all income groups
earned more last year, with those in the lowest 30 per cent and top 10
per cent seeing the fastest real income growth, according to official
data released on Friday (Feb 26).
Based on the Department of Statistics' annual Key Household Income Trends survey, the median household income from work rose to S$8,666 last year, up S$374 from S$8,292 in 2014. This is an increase of 4.5 per cent in nominal terms, or an increase of 4.9 per cent in real terms, after accounting for inflation.
Household income from work includes employer Central Provident Fund contributions.
From 2010 to 2015, the media monthly household income from work of resident employed households rose by 20.4 per cent cumulatively, or 3.8 per cent per annum in real terms, Singstat said in a press release on Friday (Feb 26).
Taking household size into account, median monthly household income from work per household member rose 5 per cent in nominal terms, or 5.4 per cent in real terms.
REAL INCOME GROWTH HIGHEST AMONG BOTTOM 20%
The lowest 10 per cent saw real income growth of 10.7 per cent on a per household member basis, while the second and third lowest deciles saw real income growth of 8.3 per cent and 7.2 per cent respectively. Meanwhile, the top 10 per cent of households saw wage growth of 7.2 per cent.
Households in the lowest 20 per cent had the fastest real income growth. Households in the lowest 10 per cent recorded growth of 10.7 per cent, while households between 11 per cent to 20 per cent recorded a rise of 8.3 per cent. Singstat attributed the rise in part to on-going initiatives to raise the wages of low-wage workers.
The top 10 per cent and the 21st to 30th percentile group recorded the next highest rise of 7.2 per cent each. The remaining percentile groups recorded a rise of 5.7 per cent to 6.7 per cent in real terms last year.
Income inequality was broadly unchanged over the last three years, the Gii coefficient at 0.463, similar to 0.464 in 2014. A higher Gini coefficient implies a less equal distribution of incomes.
Including government transfers and taxes, the Gini coefficient last year was 0.410, down from 0.463 in 2014. The 2013 reading - at 0.409 - is the lowest since it was first calculated in 2000.
Based on the Department of Statistics' annual Key Household Income Trends survey, the median household income from work rose to S$8,666 last year, up S$374 from S$8,292 in 2014. This is an increase of 4.5 per cent in nominal terms, or an increase of 4.9 per cent in real terms, after accounting for inflation.
Household income from work includes employer Central Provident Fund contributions.
From 2010 to 2015, the media monthly household income from work of resident employed households rose by 20.4 per cent cumulatively, or 3.8 per cent per annum in real terms, Singstat said in a press release on Friday (Feb 26).
Taking household size into account, median monthly household income from work per household member rose 5 per cent in nominal terms, or 5.4 per cent in real terms.
REAL INCOME GROWTH HIGHEST AMONG BOTTOM 20%
The lowest 10 per cent saw real income growth of 10.7 per cent on a per household member basis, while the second and third lowest deciles saw real income growth of 8.3 per cent and 7.2 per cent respectively. Meanwhile, the top 10 per cent of households saw wage growth of 7.2 per cent.
Households in the lowest 20 per cent had the fastest real income growth. Households in the lowest 10 per cent recorded growth of 10.7 per cent, while households between 11 per cent to 20 per cent recorded a rise of 8.3 per cent. Singstat attributed the rise in part to on-going initiatives to raise the wages of low-wage workers.
The top 10 per cent and the 21st to 30th percentile group recorded the next highest rise of 7.2 per cent each. The remaining percentile groups recorded a rise of 5.7 per cent to 6.7 per cent in real terms last year.
Income inequality was broadly unchanged over the last three years, the Gii coefficient at 0.463, similar to 0.464 in 2014. A higher Gini coefficient implies a less equal distribution of incomes.
Including government transfers and taxes, the Gini coefficient last year was 0.410, down from 0.463 in 2014. The 2013 reading - at 0.409 - is the lowest since it was first calculated in 2000.
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