ECONOMY, HR & EDUCATION | Staff Reporter, Singapore

Average household income up 4.9% in 2015 as wages rise

Low-income households experienced the fastest growth.

Median household income from work among resident employed households rose 4.9% year-on-year to $8,666 in 2015, according to data released by the Department of Statistics (SingStat).

The rise in median household income per household member came amidst a tight labour market, as well as an icnrease in the employer CPF contribution rates in 2015.

The highest income growth was recorded for households in the lowest and 2nd lowest income deciles. Income growth in these deciles stood at 10.7% and 8.3%, respectively, partly due to continued growth in wages of low-wage workers.

Over the years, monthly household income from work rose 20.4% from 2010 to 2015, and 15.3% from 2005 to 2010.

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