I was reading this article called Household incomes, living standards have gone up on The Straits Times after dinner. There were actually lots of information about Singapore’s recent household income. I was thinking that it might be useful for my essays in the future, so I shared it here in case if it would be useful for others too.
A government survey (conducted every 5 years, based on data collection in 2017 and 2018 from 13,100 Singaporeans):
– Families across all income groups are earning more than they did five years ago and, in general, their incomes are rising faster than their spending.
– The standard of living has continued to rise
– 2012 – 2013, household monthly income rose from SGD$10, 470 to SGD$11,780
– If inflation is taken into account, the rise is 2.2% per year
– The top 20% income group monthly expenditure remains stable at SGD$7.573, while their income grew 1.6% a year to touch SGD$26,587
– The bottom 20% income group’s income jump 2.8% a year to reach SGD$2,235, spending SGD$2,570 a month on average (they were the only ones whose annual growth in spending outstripped their rise in earnings)
Here is the link of the original article: https://www.straitstimes.com/singapore/household-incomes-living-standards-have-gone-up-in-five-years-govt-survey