From Wikipedia, the free encyclopedia
Median income is the amount which divides the income distribution into two equal groups, half having income above that amount, and half having income below that amount.
Source: Income - Ministry of Manpower
CW8888: If we can make $2.5K to 3K passive income per person or $5K to $6K per couple should be comfortable in Singapore. Right?
Median Gross Monthly Income From
Work of Full-Time Employed
Residents ($)
Data exclude full-time National Servicemen.
Data are for mid-year.
Residents refer to Singapore Citizens and Permanent Residents.
Gross monthly income from work refers to income earned
from employment. For employees, it refers to the gross monthly wages or
salaries before deduction of employee CPF contributions and personal
income tax. It comprises basic wages, overtime pay, commissions, tips,
other allowances and one-twelfth of annual bonuses. For self-employed
persons, gross monthly income refers to the average monthly profits from
their business, trade or profession (i.e. total receipts less business
expenses incurred) before deduction of income tax.
Before 2009, full-time refers to employment where the
normal hours of work is at least 30 hours a week while part-time refers
to employment where the normal hours of work is less than 30 hours a
week. From 2009 onwards, the threshold between full-time and part-time
was revised from 30 hours to 35 hours to align with the revised
definition in the Employment Act.
Data for 2005 are not available as the Comprehensive
Labour Force Survey was not conducted due to the conduct of the General
Household Survey by Department of Statistics, Ministry of Trade and
Industry.
^ Deflated by Consumer Price Index for all items at
2009 prices (2009 = 100). Figures in brackets are deflated by Consumer
Price Index less imputed rentals on owner-occupied accommodation at 2009
prices (2009 = 100).
Posts
CW,
ReplyDeleteI guess it depends on our life stage and lifestyle.
For someone who has no house mortgage, children grown up and finished school, $3,000 per month can be quite comfortable for a HDB lifestyle. Defintely not enough if one wants Marina yachting or Country Club golfing lifestyle.
For someone young just starting out, they will have so many goals, aims, and dreams that I don't think $3,000 per month is enough...
So the point is comfortable or not comfortable?
ReplyDeleteAnyway, I think the amount is very much dependent on the lifestyle you want.
According to the Singapore Department of Statistics' "Key Household Income Trends 2012" report, Singapore’s median household income from work increased moderately in 2012.
ReplyDeleteAmong resident employed households, the median monthly income rose from S$7,040 in 2011 to S$7,570 last year, registering a 7.5% increase in nominal terms, or 2.7% in real terms (i.e. after accounting for inflation).
CW8888: From the above stats, the median household income in 2012 is about $7.6K and we are seeing so many malls and restaurants surviving.
S-REITs are doing okay.
So we still have enough consumers who have enough money to spend?
And don't forget population growth. Without this critical mass, there's no way Singapore can support so many lookalike malls - now 1 in each town.
DeleteJust take a walk around these malls and you can see consumers can and do spend! The restaurants are full!
So population tsunami is good even for your uncle hawker & of course "Local Uncle SAM". But how good is it for you and me?
ReplyDelete