Some posters are correct on this thread. The average household income means nothing. The median is more accurate. From the information below taken from Stats Singapore's website, you can see the median income is only $3705 per person. If a household has 2 working adults ( and that is a stretch as the average household only has about 3.5 people in it), than the household has $7,410 income and not $10,500 as stated by the Shit Times. Don't forget too that the not all the $7410 is available for household use, as 36% is locked up and never seen by the individual in the form of a CPF/Medisave deduction. That means that $2668 goes into CPF, and only $4,742 is available for household and living expenses. Notice too that the Shit Times mentioned the average household expenses is $4,724, which means that there is almost no savings or discretionary income left over.
Furthermore, the shocking fact is that the average monthly income growth from $8105 5 years ago to $10,500 came from mostly rental income and investments for the upper income group while the bottom group of people get it from relatives and govt. grants. In fact, these should not even be counted. So basically if you remove this two sources, than the average income was stagnant. PAP used to be smarter when they play punk with the numbers, now even an amateur like me can see thru their shit.
MEDIAN GROSS MONTHLY INCOME FROM WORK (INCLUDING EMPLOYER CPF) OF FULL-TIME EMPLOYED RESIDENTS, 2003-2013 (JUNE) [TABLE 2.7]
2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
LEVEL ($) 2,410 2,326 n.a. 2,449 2,543 2,897 2,927 3,000 3,249 3,480 3,705
CHANGE (%)
Nominal 1.3 -3.5 n.a. n.a. 3.8 13.9 1.0 2.5 8.3 7.1 6.5
Real^ 0.8 -5.1 n.a. n.a. 1.7 6.8 0.4 -0.3 2.9 2.5 4.0
(0.6) (-5.4) (1.7) (8.0) (1.4) (-0.7) (3.9) (3.4) (4.5)
Notes: Source: Comprehensive Labour Force Survey, Ministry of Manpower
1. Data exclude full-time National Servicemen.
2. Residents refer to Singapore Citizens and Permanent Residents
3. Gross monthly income from work refers to income earned from employment. For employees, it refers to the gross monthly wages or salaries before deduction of employee CPF contributions and personal income tax. It comprises basic wages, overtime pay, commissions, tips, other allowances and one-twelfth of annual bonuses. For self-employed persons, gross monthly income refers to the average monthly profits from their business, trade or profession (i.e. total receipts less business expenses incurred) before deduction of income tax.
4. Data for 2005 are not available as the Comprehensive Labour Force Survey was not conducted due to the conduct of the General Household Survey*by Department of Statistics, Ministry of Trade and Industry.*
5. ^ Deflated by Consumer Price Index*for all*items*at 2009 prices (2009 = 100). Figures in brackets are deflated by Consumer Price Index less imputed rentals on owner-occupied accommodation at 2009 prices (2009 = 100).
6. n.a.: Not available.