By Leong Sze Hian
I refer to the report “Median household income up 7.5% in 2012” (Channel NewsAsia, Feb 20).
Real household income grew 2.7%?
According to the Department of Statistics’ Key Household Income Trends 2012, “Among resident employed households, median monthly household income from work increased from $7,040 in 2011 to $7,570 in 2012, a 7.5 per cent growth in nominal terms, or 2.7 per cent in real terms”.
Real household per member income grew 1.6%?
As to “Taking into consideration changes in household size, median monthly household income from work per household member increased by 6.7 per cent in nominal terms, or 1.9 per cent in real terms in 2012″, does it mean that more people per household, particularly in lower-income households, may have to work in order to make ends meet?
Actually, the above statistics is “including employer CPF contribution”. The figure “excluding employer CPF contribution” is only 1.6 per cent in real terms in 2012.
The Average Household Size of Resident Employed Households by Type of Dwelling, increased the most for HDB 1 and 2-room flats, from 2.58 to 2.68 in 2012.
Lowest 10%’s real income grew 0.7% per annum last decade?
The 1st to 10th decile’s real Average Monthly Household Income from Work Per Household Member
Among Resident Employed Households, grew by – 1.2 per cent per annum in 2012 to only $440, and only 1.1 per cent per annum from 2007 to 2012.
From 2002 to 2007, the real income growth for this group was only 0.3 per cent per annum.
So, does it mean that the real income growth for the last decade was only about 0.7 per cent per annum?
Lowest 10 & 20%’s real incomes dropped -1.5 & -0.2%?
Similarly, the above statistics are “including employer CPF contribution” – the Change in Real Average Monthly Household Income from Work excluding Employer CPF Contributions Among Resident Employed Households for the 1st to 10th and 11th to 20th decile was – 1.5 and – 0.2 per cent in 2012.
Likewise, the Average Monthly Household Income from Work excluding Employer CPF Contributions
Per Household Member Among Resident Employed Households was only $410 and $780 in 2012 for the 1st to 10th and 11th to 20th decile, respectively.
HDB 1 & 2-room’s real income grew 0.55% p.a. last decade?
For HDB 1 and 2-room flats, the real growth was only 0.3 and 0.8 per cent per annum, from 2002 to 2007 and 2007 to 2012, respectively.
So, their real income growth was only about 0.55 per cent per annum for the last decade.
This group comprise 4.7 per cent or 54,144 households out of the total 1,152,000 households.
Middle class’ real income grew as little as 0.1% p.a.?
The Change in Real Average Monthly Household Income from Work excluding Employer CPF Contributions
Among Resident Employed Households by Type of Dwelling, was only 0.3 per cent in 2012 for HDB 1-room, 0.2 per cent for 5-room and Executive flats, and 0.1 per cent condominiums and other apartments.
200,000 households don’t earn much?
Resident Households by Monthly Household Income from Work excluding Employer CPF Contributions, was 3.2, 7.0 and 7.3 per cent of total households, for income below $1,000, $1,000 to $1,999 and $2,000 to $2,999, respectively.
Does this mean that there were about 201,600 households (36,864 + 80,600 + 84,096) earning below $3,000.
Gini “excluding employer CPF contribution” worse?
“The Gini coefficient increased slightly from 0.473 in 2011 to 0.478 in 2012.” – “Excluding employer CPF contribution”, the Gini is even worse at 0.488.
