The lowest 10 per cent in terms of household income saw the slowest average nominal income growth.
SINGAPORE - The median monthly income from work for Singapore households was above $10,000 for the second year in a row in 2023.to $10,869 in 2023, according to data released by the Singapore Department of Statistics on Feb 7.After adjusting for inflation, the median monthly household income rose 2.8 per cent in real terms in 2023.
In real terms, median monthly household income rose 1.7 per cent in 2023 per household member, slower than the 2.6 per cent increase in 2022. All resident employed households were ranked from the lowest to the highest based on monthly household incomes per household member. They were then divided into 10 equal groups, or deciles.
The 10th decile, or households with the highest median income, saw the biggest drop in real household income among all deciles, falling by 1.9 per cent in 2023 compared with 2022. Resident households, including households with no employed people, received $6,371 per household member on average from government schemes in 2023, up 8.7 per cent from the $5,859 received in 2022.
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