The latest household income have been published and it seems the general narrative is that the bottom 30% and top 10% grew their household income the fastest. This is no doubt by government’s helping hand and the rich being rewarded for their efforts.
2015’s median income comes up to $8666/mth which is a nice 4.5% growth over last year.
This is a nominal figure, meaning it doesn’t factor in inflation and it includes the Employer CPF Contribution.
I still don’t get why in this country we don’t talk in terms of annual figures.
Here are the data for the past 15 years. Note that it includes employers’ CPF contribution so you probably have to divide some figures by 116% then multiply by 100%. I have also show how the figures will look if its divide by 2, since most household have 2 income earners, as well as the annual figures.
Singaporeans are a lucky bunch. There is probably only 3 years that the household income went down slightly.
Average household income growth is higher than inflation and keeps pace with GDP growth.