Singapore sees median household income up, inequality down in 2013

Singapore's median monthly household income from work rose by 1.6 percent year on year in real terms in 2013, the Department of Statistics said on Tuesday. The median monthly household income from work rose from 7,570 Singapore dollars (6,008 U.S. dollars) in 2012 to 7,870 Singapore dollars (6,246 U.S. dollars) in 2013, up 4 percent year on year in nominal terms. Over the last 5 years from 2008 to 2013, the median monthly household income from work of resident employed households rose by 11 percent in real terms. The authority said in this report, the resident employed households refer to households headed by Singapore Citizens or permanent residents and with at least one working person. Taking into account the different household sizes, the median monthly household income from work per household member rose by 3. 2 per cent in real terms, the report added. Meanwhile, the city-state's inequality fell last year. According to the report, the Gini coefficient, a measure of income inequality that ranges from zero with total equality to one with total inequality, fell from 0.478 in 2012 to 0.463 in 2013. After taking into account government transfers and taxes, the figure is 0.412, which was the lowest since 2000.