GE: 18% real income increase?

September 7, 2015

18% real increase in household income since 2010

According to the allsingaporestuff.com article ” THARMAN: 18% GROWTH IN S’POREAN REAL INCOMES “UNUSUAL” FOR DEVELOPED ECONOMIES” (Sep 7) –  “Since 2010, there has been an 18% increases in the median household income of Singaporeans – inclusive of adjustments for the increases in costs of living.” –  I believe the statistic being referred to is the gross wage for employed Singaporean households including employer CPF contribution.

Excluding employer CPF?

What is the statistic excluding employer CPF?

What about Singaporean workers’ wages?

What is the statistic for all Singaporean workers (full-time and part-time) excluding employer CPF contribution?

We also need to note that the number of unemployed and retiree households, and the number of working members in households has increased in the last five years. Thus making the household income statistic look better.

Real increase in wages?

If we go further back to look at longer periods of statistics – I understand that there may have been hardly any real increase in the median basic, gross and total wage (excluding employer CPF contribution) for all Singaporean workers (full-time and part-time) for the last 16 years or so.

Jobs to Singaporeans?

Also, we need to look at the jobs’ statistics in addition to the wage statistics, because many Singaporeans may be unemployed, long-term unemployed, under-employed, etc.

In this connection, I understand that there were about 350,000 increase in jobs for locals against about 490,000 increase in jobs to foreigners over the last 8 years or so.

348,654 new PRs and 153,923 new citizens

If we make an adjustment for the 348,654 new PRs and 153,923 new citizens granted from 2007 to 2014 – how many of the increase in local jobs  actually went to  “true-blue” Singaporeans?

Leong Sze Hian

 

 

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About the Author

Leong
Leong Sze Hian has served as the president of 4 professional bodies, honorary consul of 2 countries, an alumnus of Harvard University, authored 4 books, quoted over 1500 times in the media , has been a radio talkshow host, a newspaper daily columnist, Wharton Fellow, SEACeM Fellow, columnist for theonlinecitizen and Malaysiakini, executive producer of Ilo Ilo (40 international awards), Hotel Mumbai (associate producer), invited to speak more than 200 times in about 40 countries, CIFA advisory board member, founding advisor to the Financial Planning Associations of 2 countries. He has 3 Masters, 2 Bachelors degrees and 13 professional  qualifications.