19 Feb '14, 9am

#Income inequality here lowest in decade: Report #Gini #DOS

MOST households here earned more last year, with incomes rising amid a tight labour market and government help for low- wage workers. The exception was the richest households, which saw their incomes fall. This resulted in the income gap narrowing, with the Gini coefficient - a widely used measure of income equality - showing the lowest inequality since 2004. With the effect from various government taxes, handouts and subsidies factored in, it was the lowest on record. This was according to a Department of Statistics report yesterday, which covered households headed by Singapore citizens or permanent residents, and with at least one working person. Median monthly household income from work rose to $7,872, meaning that half of households earned at least that much. This was up 4 per cent from 2012, or 1.6 per cent after accounting for inflation. Taking household size into ac...

Full article: http://www.cpf.gov.sg/imsavvy/infohub_article.asp?readid=...

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