Median income growth: MOM says +1%, PSD says -0.6%?
~ By Leong Sze Hian ~
I refer to the article "1.618 months pro-rated National Bonus for political office-holders" (TODAY, March 27) which states that, "For 2011, there was no payout under the real median income growth rate indicator, as it was -0.6 per cent. There was, however, a 50 per cent payout level for real growth rate of the lowest 20th percentile income indicator as it saw a 1.8 per cent growth".
However, according to the Ministry of Manpower's (MOM) Employment Situation 2011 report, the real median income growth rate of Singaporean workers in 2011 was 1 per cent – which was the figure that was widely reported in the media (together with 2.5 per cent figure for the 20th percentile.
Why is it that the MOM's figures differ from that used by the Public Service Division (PSD) of the Prime Minister's Office in calculating the National Bonus for political office-holders (2011 National Bonus for Political Appointment Holders)?
If you are interested in this issue, then do read the following articles as well:
Labour Market report: Income dropped – 0.7%?
Jobs in Singapore – 2011 income growth, 1% or 0.7%?
Headline photo courtesy of Rand Research
Support TOC! Buy Uncle Leong’s book here!