Among resident-employed households, median monthly household income from work grew by 6.1 per cent in nominal terms, from S$9,520 in 2021 to S$10,099 last year. But after accounting for inflation, the gain translated to 0.2 per cent.
Meanwhile, households in the first nine deciles saw real income growth of 1.1 to 10.1 per cent, with lower income groups experiencing larger increases.After adjusting for government transfers and taxes, the Gini coefficient in 2022 is 0.378, the second lowest on record. This was higher than the $5,257 received in 2021, due to support measures to cushion the impact of the GST rate hike and inflation.
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Real median household income in Singapore rose slightly in 2022 to S$10,099The Gini coefficient, which measures income inequality, fell slightly to 0.437. Median is not representative due to the skew. Why not lob off 10% each from the top and bottom-ends and use the middle 80% to find out the average income ? That is more true representation imo. Since then, GST and inflation rose 14% and 6.4% respectively. Cannot !
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Real median household income in Singapore rose slightly in 2022 to S$10,099SINGAPORE — Median household income in Singapore grew 0.2 per cent in 2022 after accounting for inflation, in figures released on Thursday (Feb 9) by the Singapore Department of Statistics. I can pay off my private property in 4 years thanks to the beautiful city Singapore. I enjoy working here and living here. What bull…. Lol, how many people earned a median salary like this?
Source: TODAYonline - 🏆 1. / 99 Read more »
Over 200% spike in fake friend call scam reports in 2022; victims lost $8.8 millionSINGAPORE - In 2020, there were no reported fake friend call scams. Read more at straitstimes.com.
Source: straits_times - 🏆 5. / 69 Read more »
$660.7m lost to scams in 2022, 6 in 10 victims were young adultsScam victims in Singapore lost a total of $660.7 million in 2022, up from $632 million in 2021. The figures released by the police on Wednesday means that almost $1.3 billion was lost to scams in the past two years. And contrary to popular belief, it wasn’t...
Source: thenewpaper - 🏆 7. / 63 Read more »
Without Budget 2022 tax and fee increases, revenue would not be able to cover spending: MOFThese moves will boost the Government’s operating revenue by around 0.7 per cent of GDP per annum. Read more at straitstimes.com. This is a sign of failed management and overspending, nothing to do with the millions of ppl that are struggling on a daily basis on their basic cost of living and are already paying taxes. They please get their facts in order. Maybe if we stopped wasting more than $600k on mayors' salaries then that may be a good start? Am sure there's a lot of fat, waste and crap like that we can cut. But isn't the increased 'social' spending due to failed gahmen 'trickle-down' policies that created an incredibly unbalanced economy with a big part of society burdened disproportionately with a Swiss cost of living and an inadequate retirement system.
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Household incomes in S’pore rose in 2022 but inflation has chipped away at growthAfter adjusting for inflation, households in the first nine deciles saw real income growth of 1.1 to 10.1 per cent. Read more at straitstimes.com.
Source: straits_times - 🏆 5. / 69 Read more »