Household incomes up, rising most for the bottom fifth

Average monthly household incomes have risen across the board, with households in the bottom fifth seeing the biggest gains, according to the latest Household Expenditure Survey. -- PHOTO: ST FILE
Average monthly household incomes have risen across the board, with households in the bottom fifth seeing the biggest gains, according to the latest Household Expenditure Survey. -- PHOTO: ST FILE

SINGAPORE - Average monthly household incomes have risen across the board, with households in the bottom fifth seeing the biggest gains, according to the latest Household Expenditure Survey.

Conducted every five years, the latest survey is based on data collected in 2012 and 2013 for Singaporeans and permanent residents households.

The average monthly household income was $10,503, up from $8,105 five years before. This was an average annual rise of 5.3 per cent in dollar terms.

It outpaced inflation, which averaged 3.1 per cent each year.

All income groups also saw their household income rise more than their spending did.

The greatest income growth was seen for households in the bottom fifth, where average income rose 6.6 per cent a year to hit $2,022.

In terms of household income per household member, the growth was even larger, averaging 7.5 per cent a year.

Overall, the rise in household incomes came on the back of both higher work income and more income from non-work sources, including government transfers such as the Workfare Income Supplement for low-wage workers.

For households in the bottom fifth, income from work rose 4.3 per cent each year, while non-work income rose 14.1 per cent.