Median Household Income From Work Grew To S$9,293 In 2018
Households earned more from work last year. Household incomes, when divided per each household member, also grew.
The Department of Statistics’ annual Key Household Income Trends report that was released on Wednesday (February 13) revealed that the median household income from work grew to S$9,293 in 2018 from S$9,023 in 2017.
This represents a 3% increase in nominal terms, and a 2.6% increase in real terms.
All deciles saw real growth in average household income from work per household member, with the 81st – 90th and 71st – 80th deciles experiencing the highest growth of 4%.
On the other hand, the Gini coefficient – a measure of income inequality from 0 to 1, with 1 being least equal – stayed at 0.458 in 2018, a minuscule shift from 0.459 in 2017.