Incomes rose across the board for Singapore households in 2014

Among households in Singapore with at least one person working, the median household income from work rose to $8,290 last year from $7,870 in 2013. -- ST PHOTO: SEAH KWANG PENG
Among households in Singapore with at least one person working, the median household income from work rose to $8,290 last year from $7,870 in 2013. -- ST PHOTO: SEAH KWANG PENG

Singapore households across all income groups earned more last year, according to the latest data released on Monday.

The average household took in more income even after accounting for inflation, data from the Department of Statistics' annual Key Household Income Trends survey showed.

SOURCE: STATISTICS SINGAPORE

Among households in Singapore with at least one person working, the median household income from work rose to $8,290 last year from $7,870 in 2013.

That represents a 5.3 per cent increase in nominal terms or a 4.1 per cent increase in real terms, after taking into account inflation.

Income inequality stayed at its lowest levels in more than a decade.

The Gini coefficient, a measure of income inequality, was 0.464 last year, compared with 0.463 in 2013.

SOURCE: STATISTICS SINGAPORE

A lower Gini coefficient implies a more equal distribution of incomes.

Including government transfers and taxes, the Gini coefficient last year was 0.412, up from 0.409 in 2013. The 2013 reading was the lowest since it was first calculated in 2000.

feimok@sph.com.sg