"Bottom 30%, top 10% of Singapore households saw fastest real income growth - CNA 26 Feb 2016
SINGAPORE: Households across all income groups earned more last year, with those in the lowest 30 per cent and top 10 per cent seeing the fastest real income growth, according to official data released on Friday (Feb 26).
Based on the Department of Statistics' annual Key Household Income Trends survey, the median household income from work rose to S$8,666 last year, up S$374 from S$8,292 in 2014. This is an increase of 4.5 per cent in nominal terms, or an increase of 4.9 per cent in real terms, after accounting for inflation.
Household income from work includes employer Central Provident Fund contributions.
From 2010 to 2015, the median monthly household income from work of resident employed households rose by 20.4 per cent cumulatively, or 3.8 per cent per annum in real terms, Singstat said in a press release on Friday (Feb 26)."
This is WONDERFUL news. Yes? Monthly median household income from work rose to S$8,666! Surely this means the 'median' families have NOTHING to complain about high cost of living and the costs of bringing up kids for 'necessary (?) tuition' or 'put-my-kids-ahead at the starting lines', etc.
1. always be grateful to see increases in monthly income. To be ungrateful would be totally unacceptable! Period;
2. at the same time, it is important to analyse the numbers provided to assess and try to understand WHY with this seemingly 'high' median household income, Singaporeans are still apprehensive about raising kids (for those who are 'lucky' to want to and found a lifetime partner) and complaining about the high cost of living?;
3. if the insights of the detailed analysis revealed: a. people should REALLY be happy as their income is totally adequate to make ends meet with spare change, we need to 'righting' the wrong perception of the people!; or b. people should REALLY be complaining as even at this seemingly 'high' monthly income, they TRULY could not make ends meet!
Perhaps the statisticians of the state can dig into this?
For me, I am grateful and happy as I totally agreed that my household income is adequate to cover my expenditure given that I really really have nothing much to 'spend' on since my wants are a lot lesser than my needs!
SINGAPORE: Households across all income groups earned more last year, with those in the lowest 30 per cent and top 10 per cent seeing the fastest real income growth, according to official data released on Friday (Feb 26).
Based on the Department of Statistics' annual Key Household Income Trends survey, the median household income from work rose to S$8,666 last year, up S$374 from S$8,292 in 2014. This is an increase of 4.5 per cent in nominal terms, or an increase of 4.9 per cent in real terms, after accounting for inflation.
Household income from work includes employer Central Provident Fund contributions.
From 2010 to 2015, the median monthly household income from work of resident employed households rose by 20.4 per cent cumulatively, or 3.8 per cent per annum in real terms, Singstat said in a press release on Friday (Feb 26)."
This is WONDERFUL news. Yes? Monthly median household income from work rose to S$8,666! Surely this means the 'median' families have NOTHING to complain about high cost of living and the costs of bringing up kids for 'necessary (?) tuition' or 'put-my-kids-ahead at the starting lines', etc.
1. always be grateful to see increases in monthly income. To be ungrateful would be totally unacceptable! Period;
2. at the same time, it is important to analyse the numbers provided to assess and try to understand WHY with this seemingly 'high' median household income, Singaporeans are still apprehensive about raising kids (for those who are 'lucky' to want to and found a lifetime partner) and complaining about the high cost of living?;
3. if the insights of the detailed analysis revealed: a. people should REALLY be happy as their income is totally adequate to make ends meet with spare change, we need to 'righting' the wrong perception of the people!; or b. people should REALLY be complaining as even at this seemingly 'high' monthly income, they TRULY could not make ends meet!
Perhaps the statisticians of the state can dig into this?
For me, I am grateful and happy as I totally agreed that my household income is adequate to cover my expenditure given that I really really have nothing much to 'spend' on since my wants are a lot lesser than my needs!
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