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By Janice Heng
The Straits Times
Sunday, Feb 03, 2013
SINGAPORE - Real incomes of full-time Singaporean workers grew by 1.2 per cent last year - up from 1 per cent the previous year.
This was due to lower inflation of 4.6 per centand despite dollar incomes not rising as fast due to "weaker economic conditions", said the Employment Situation 2012 report of Manpower Ministry.
The median monthly income of full-time employed Singaporeans rose by 5.8 per cent, down from a 6.3 per cent rise the year before. Half of them were earning at least $3,248 last June, including employers' CPF contributions.
But inflation ate less into pay rises. Real median income thus grew 1.2 per cent last year, up from 1 per cent in 2011 when inflation was at 5.2 per cent.
Excluding rents from the inflation measure, as most workers own and do not rent their property, growth in real income was 2.1 per cent.
Figures released last December showed that median incomes for residents - that is, Singaporeans and permanent residents - rose more than for Singaporeans alone.
The median monthly income for residents rose 7.1 per cent over the year to $3,480 in June 2012. This meant that real income for residents grew by 2.5 per cent.
Excluding assumed rents, residents' real income growth would have been 3.4 per cent.
Incomes have also been rising for full-time employed citizens in the bottom fifth of the population in terms of earnings. The income for that bracket was $1,647 last year, meaning a fifth of citizens earn that amount or less.
This is up an average of 4.8 per cent each year since 2007, or an average of 0.9 per cent each year if inflation is taken into account.
The Straits Times
Sunday, Feb 03, 2013
SINGAPORE - Real incomes of full-time Singaporean workers grew by 1.2 per cent last year - up from 1 per cent the previous year.
This was due to lower inflation of 4.6 per centand despite dollar incomes not rising as fast due to "weaker economic conditions", said the Employment Situation 2012 report of Manpower Ministry.
The median monthly income of full-time employed Singaporeans rose by 5.8 per cent, down from a 6.3 per cent rise the year before. Half of them were earning at least $3,248 last June, including employers' CPF contributions.
But inflation ate less into pay rises. Real median income thus grew 1.2 per cent last year, up from 1 per cent in 2011 when inflation was at 5.2 per cent.
Excluding rents from the inflation measure, as most workers own and do not rent their property, growth in real income was 2.1 per cent.
Figures released last December showed that median incomes for residents - that is, Singaporeans and permanent residents - rose more than for Singaporeans alone.
The median monthly income for residents rose 7.1 per cent over the year to $3,480 in June 2012. This meant that real income for residents grew by 2.5 per cent.
Excluding assumed rents, residents' real income growth would have been 3.4 per cent.
Incomes have also been rising for full-time employed citizens in the bottom fifth of the population in terms of earnings. The income for that bracket was $1,647 last year, meaning a fifth of citizens earn that amount or less.
This is up an average of 4.8 per cent each year since 2007, or an average of 0.9 per cent each year if inflation is taken into account.
