PAP Spin - You are richer than you think

[winnipegjets]

Household incomes up 2.7% last year

Goh Chin Lian
Singapolitics
Wednesday, Feb 20, 2013

SINGAPORE - Median monthly household income from work rose from $7,040 in 2011 to $7,570 last year, said the Department of Statistics Singapore on Wednesday.

This is a 7.5 per cent increase in nominal terms, or 2.7 per cent after factoring in inflation.

Taking into consideration changes in household size, median monthly household income from work for each household member rose by 1.9 per cent in real terms over the same period, and 13 per cent over five years from 2007 to last year.

The report from the Department of Statistics also noted that the Gini coefficient, a measure of income inequality, increased from 0.473 in 2011 to 0.478 last year.

But after taking into account government transfers and taxes, the figure is 0.459.

 

[winnipegjets]

Median monthly household income from work rose from $7,040 in 2011 to $7,570 last year, said the Department of Statistics Singapore on Wednesday.

I suspect this figure includes the CPF contribution of the employers and is before deduction for CPF. Why household income? How many income earners in the households - 2 or 3 or 4?

the Gini coefficient, a measure of income inequality, increased from 0.473 in 2011 to 0.478 last year.

But after taking into account government transfers and taxes, the figure is 0.459.

This still makes sinkapore the country with the highest disparity between the rich and the poor.

 

[laksaboy]

What good is being asset rich when you're cash poor, when the rampant inflation rapes your disposable income.

It's still a good 3 years till GE2016, isn't it? Why the good news now? Is the PAP desperate?

 

[Brubeck]

They are probably afraid of another Hong Lim Park protest. Mindsets are changing, I think PAP is in panic mode now.

 

[ZombieFart]

Median monthly household income from work rose from $7,040 in 2011 to $7,570 last year

Is this data meaningful?

Imagine if more children cannot afford a new flat and have to stay with their parents in the same house, then the household income will be higher, right?

 

[winnipegjets]

A lot of obfuscation in data ...previously released data, it was worked out that the take-home median income was $2100.

 

[winnipegjets]

In the sixth most expensive place to live, 50 percent of the working folks make less than $2100 a month, that's troubling. That's why they have to release 'household median income' to project a better picture.

 

[TeeKii]

They are probably afraid of another Hong Lim Park protest. Mindsets are changing, I think PAP is in panic mode now.

stand to, red alert, mayday mayday

 

[zhihau]

Household incomes up 2.7% last year

household income increment due an additional member of the household becoming employed?