Singapore household incomes rose in 2011 - Hard Truth ha ha

[Confuseous]

By Cai Haoxiang
Household incomes rose for all income groups last year on the back of a tight labour market, according to latest Department of Statistics data.

The median monthly household income from work rose from $6,340 in 2010 to $7,040 in 2011, an increase of 11 per cent. After adjusting for inflation, the increase was 5.6 per cent, double the 2.8 per cent real growth in 2010.

These figures are for Singaporean and permanent resident households with at least one working member, and include employer Central Provident Fund (CPF) contributions.

Average monthly incomes increased the fastest for the top 10 per cent of employed households, rising from $24,440 in 2010 to $27,870 in 2011, or 7.9 per cent in real terms. For the bottom 10 per cent, average monthly incomes increased from $1,500 to $1,580, or 0.9 per cent in real terms.

This nudged the Gini coefficient - a measure of income inequality - up to 0.473 in 2011, from 0.472 in 2010. A higher figure indicates greater income inequality.

But if household size was adjusted for, incomes per household member for the bottom 10 per cent grew at a faster rate than the top. This is because the average household size for the bottom 10 per cent dropped from 3.9 members per household in 2010 to 3.8 members in 2011.

And for the top 10 per cent, the average household size increased from 2.7 members per household in 2010 to 2.8 members in 2011.

 

[Fook Seng]

Any information based on per worker instead of household as households normally include children who are non-employable. Gini coefficient only looks at individual income. You can get statistics to tell you anything. Just need to go back to basic definition to find out the truth.

 

[Leongsam]

The PAP has obviously done a very good job. I would like to congratulate Mr Lee's team. They have shown astute and reliable leadership during a period of considerable economic uncertainty.

 

[wMulew]

Any information based on per worker instead of household as households normally include children who are non-employable. Gini coefficient only looks at individual income. You can get statistics to tell you anything. Just need to go back to basic definition to find out the truth.

BTW the figures for both this and the previous article includes CPF

Median monthly incomes rose to a high of $2,633 in 2011 in June, up from $2,500 last year, according to latest statistics from the Manpower Ministry.

The inflation-beating rise reflects a tighter labour market where the employment rate of older residents and women reached new highs, the report said.

The median monthly income of a full-time worker was $2,925, while that of a part-time worker was $750. This is an increase from $2,708 and $700 last year.

The employment rate for older residents 'made good progress', the report said. A record 61.2 per cent of residents aged 55 to 64 were working in 2011, up from 59.0 per cent a year ago.

http://www.straitstimes.com/BreakingNews/Singapore/Story/STIStory_739614.html

 

[erection2015]

pssst Sam ...your tongue looks quite raw already.

The PAP has obviously done a very good job. I would like to congratulate Mr Lee's team. They have shown astute and reliable leadership during a period of considerable economic uncertainty.

 

[streetsmart73]

hi there


1. sammy, i am pissing in my pants for the "wonderful" reliable figures.
2. well done, sheep!