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Source:
www.singstat.gov.sg |
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SUSTAINED ECONOMIC GROWTH SAW
SINGAPORE RESIDENT HOUSEHOLDS ENJOYING INCOME GROWTH IN 2006 |
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Lowest 10 per cent of
employed households experienced reversal from decline since Asian
Financial Crisis |
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An Occasional Paper released by the
Singapore Department of Statistics today on ¡®Key Household Income
Trends, 2006¡¯ found that sustained economic growth boosted household
income growth among Singapore resident households in 2006. |
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Among employed households (i.e. households
with at least one working person), average monthly household income from
work1 grew by 4.3 per cent in 2006 to reach $6,260. |
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After adjusting for inflation, employed
households enjoyed real income growth of 3.2 per cent in 2006. |
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The expanding economy and improving labour
market have benefited all income groups. Employed households across the
board experienced an increase in income per household member in real
terms. |
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For the lowest 10% of employed households,
this was a reversal from the decline experienced since 1997. |
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The strong pickup in income per household
member among the lower-income employed households has taken place even
though individual wages among lower-income workers have generally
remained stagnant. |
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This apparent discrepancy can be explained by two
factors: |
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First, there has been an increase in the number of
working persons in the lower-income employed households, with more of them being
able to find jobs in a growing economy. |
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Second, there has been a reduction in
household sizes over a year ago, thereby increasing the average
income per household member. |
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In real terms, income per household member among the
lowest 10% employed households has recovered to 2001 levels. For all other
income groups, their incomes have recorded new highs. |
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In particular, the higher-income
employed households saw faster income growth, reflecting higher
wage increases for skilled and knowledge workers. |
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Thus, the income distribution
continued to widen among employed households, with the Gini
coefficient increasing slightly from 0.468 in 2005 to 0.472 in
2006. |
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However, the Government¡¯s policies
have been effective in reducing household income disparity. |
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The Progress Package including the
Workfare Bonus helped to improve the incomes of all households,
but gave a more significant boost to those in the lower-income
groups. |
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Hence, after adjusting for Government
benefits and taxes, the Gini coefficient among employed households
was reduced to 0.439 in 2006. |
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The Occasional Paper on ¡°Key Household
Income Trends, 2006¡± is available for download from the Department
of Statistics¡¯ website at
http://www.singstat.gov.sg. For enquiries, please contact Miss
Chia Cheow Lin at Tel: 6332 7037. |
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SINGAPORE DEPARTMENT OF STATISTICS
12 February 2007 |
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1 Household income from work refers to
the sum of income received by all members of the household from
employment and business. However, it does not include the income
of servants. |
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Source:
www.singstat.gov.sg Press
Release 12 Feb 2007 |
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FrontPage Edition: Mon 12 February 2007
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