PRs’ income is 47% more than S’poreans?

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I refer to the Ministry of Manpower’s (MOM) Labour Market Report 2016.

S’poreans’ income – $3,823

The Gross Median Income From Work (including employer CPF) of Full-time Employed Singapore Citizens (June 2016) was $3,823.

Residents’ income – $4,056

According to the MOM’s web site – Summary Table – Income – the Gross Median Income From Work (including employer CPF) of Full-time Employed Residents (PRs and citizens) (June 2016) was $4,056.

Although there is no breakdown of the residents’ (local) workforce into PRs and citizens – I estimate (from the last available statistics that I was able to find) the percentage of PRs to be about 13 per cent of the residents’ workforce.

“Solve” for the income of PRs?

With the above data, we can try to solve for the gross median income of PRs as follows:

0.87 x $3,823 + 0.13 x PR = $4,056

PRs income – $5,615?

PR = $5,615

PRs income is 47% more than S’poreans?

So, does it mean that the gross median income of PRs is about 47 per cent ($5,615 divided by $3,823) more than Singaporeans?

Leong Sze Hian

About the Author

Leong
Leong Sze Hian has served as 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), invited to speak more than 200 times in over 30 countries, CIFA advisory board member, founding advisor to the Financial Planning Associations of Indonesia and Brunei. He has 3 Masters, 2 Bachelors degrees and 13 professional  qualifications.