SINGAPORE: Middle regular home salary from work in Singapore rose to S$ 11, 297 in 2024 from S$ 10, 869 in 2023, or by 1.4 per share in real terms after adjusting for inflation.  ,
In 2024, the median monthly salary from work increased slower than it did the previous year; in 2023, the determine increased by 2.8 %, as expected.  ,
Budgeting for family size, the median monthly income per household member rose by 0.8 per share in real terms, from S$ 3, 500 in 2023 to S$ 3, 615 in 2024, also seeing slower progress compared to the year before.  ,
The Singapore Department of Statistics ( Singstat ) released the figures on Thursday ( Feb 13 ) in the paper titled” Key Household Income Trends 2024.”  ,
After accounting for inflation, the study found that the median monthly household income from work increased by 0.7 % annually over the previous five years.  ,
Over the same time period, the number per family member increased by 1.3 % per year in real terms.  ,
In real terms, the average household employment income per household member increased by between 0.6 % and 3.2 % in all income deciles in 2024.  ,
The number for homes with the lowest decile and highest percentile increased by 3.2 % on the same scale.  ,
SingStat found that some residents who worked for homes with the lowest 10 %, who also owned cars, who hired domestic helpers, who resided on private property, or who served as a family research for over 65 years.
The house research man may include the oldest part, the primary revenue worker, the owner-occupier of the house, the person in charge of the household’s affairs, or the person who provided the information pertaining to other members.
In the first nine deciles, the average household income from work increased by 0.3 % to 1.9 % per year in real terms between 2019 and 2024, up from last year.  ,
For homeowners in the best class, this dropped by 0.7 per share per annum.  ,
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In 2024, households received more government transfers, with those who reside in Housing and Development Board ( HDB) flats with one and two bedrooms receiving the most.  ,
Households received an average of S$ 7, 825 per family member from government plans in 2024, up from the S$ 6, 418 received in 2023, said Singstat.  ,
” This was expected to actions rolled out in 2024 to help families in regions such as cost-of-living, pension and healthcare needs”, it said in the media release.  ,
Families that lived in one- and two-room HDB flats received an average of S$ 16, 805 per part from government techniques, more than double the normal received by all native households.  ,
The Gini index, which measures income inequality, fell to a record low. A Gini index of 1 indicates great injustice, and a lower number indicates less earnings disparity.
The index rose from 0.433 in 2023 to 0.435 in 2024, before federal payments and fees.  ,
After adjusting for federal payments and fees, the Gini index was 0.364, lower than the 0.371 in 2023, and the lowest since records began in 2000.  ,
” This reflected the increase in state aid for lower- and middle-income native families”, Singstat said.  ,