Household incomes increased in 2011 in Singapore

According to the report of Department of Statistics,the income groups in Singapore witnessed a household income hike in 2011.

According to the sources, the monthly household income from work raised from $6,340 in 2010 to $7,040 in 2011. The data is taken in Median terms. Hence, there was an increase of 5.6 percent in 2011 and the same was just 2.8 percent in 2010.

To note that the above figures are specially for Singaporean and Permanent Resident Households that has minimum one working member and there is an inclusion of the employer Central Provident Fund (CPF) contributions.

According to the reports, the fastest increase in the monthly incomes was of top 10 per cent of employed households. The factual figures are that there is an 7.9 percent increase in 2011 from $24,440 in 2010 to $27,870 in 2011. For the bottom 10 percent, there is an increase of 0.9 percent from $1,500 to $1,580.

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