Real income growth rises to 3.9 per cent this year

Pedestrians crossing a road at Shenton Way on Aug 30, 2013. Real incomes grew more this year compared to 2012 as inflation eased, according to preliminary figures released on Nov 29, 2013, by the Manpower Ministry. -- ST FILE PHOTO: ALPHONSUS CHERN&n
Pedestrians crossing a road at Shenton Way on Aug 30, 2013. Real incomes grew more this year compared to 2012 as inflation eased, according to preliminary figures released on Nov 29, 2013, by the Manpower Ministry. -- ST FILE PHOTO: ALPHONSUS CHERN 

Real incomes grew more this year compared to 2012 as inflation eased, according to preliminary figures released on Friday by the Manpower Ministry.

After accounting for inflation, median income including employer CPF contributions rose by 3.9 per cent in 2013, compared to 2.5 per cent in 2012. Nominal income growth - that is, before accounting for inflation - was 6.5 per cent.

More locals are also entering the workforce and getting employed. Labour force participation rose to a record 66.7 per cent, while the employment rate of residents aged 25 to 64 rose to 79 per cent, up from 78.8 per cent last year, with a rising share of white-collar workers.

The figures are based on data from the Comprehensive Labour Force Survey. A full report of the findings will be published in January.