Household incomes rose in 2022, income inequality fell
SINGAPORE - Median household income grew in 2022 and income inequality fell when compared with 2021, figures released by the Singapore Department of Statistics on Thursday showed.
From 2017 to 2022, median monthly household income from work of resident employed households increased 2.9 per cent cumulatively, or 0.6 per cent per annum in real terms. From 2017 to 2022, median monthly household income per household member grew by 11.9 per cent cumulatively or 2.3 per cent per annum in real terms.Households across most income deciles saw increases in average household income from work per household member after adjusting for inflation.
Between 2017 and 2022, the average household income from work per household member of resident employed households in the first nine deciles rose 1.5 to 3.0 per cent per annum in real terms, while that in the top decile recorded a decline of 0.4 per cent per annum in real terms. This was higher than the $5,257 received in 2021, due to the one-off and transitionary measures in 2022, as well as enhanced schemes, to cushion the impact of the GST rate increase and higher inflation on cost of living, said SingStat.
The Gini coefficient based on household income from work per household member - before Government transfers and taxes - fell to 0.437 in 2022, from 0.444 in 2021.
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