The report goes on to say that median monthly income per household member among citizen headed employed households increased by 1.8% p.a. in real terms over the same period. This is a measure that MOM appears to have trotted out specially. However this has even more problems than the first measure. The number of dependents per household has been falling as a consequence of Singapore’s declining birth rate. So income per household member would rise even without any rise in median real incomes.
Even if the MOM’s statistics are accepted at face value there would appear to have been little real income growth for the majority of Singaporeans. However given the caveats above the picture is undoubtedly worse than it appears.
- http://sonofadud.com/2011/10/13/singapore-the-stagnant-society/
Even if the MOM’s statistics are accepted at face value there would appear to have been little real income growth for the majority of Singaporeans. However given the caveats above the picture is undoubtedly worse than it appears.
- http://sonofadud.com/2011/10/13/singapore-the-stagnant-society/