863,000 Employed Residents’ Take-home Pay below $2,400
Plus 111,200 Unemployed?
Labour Force in Singapore 2021 Edition
(Released Jan 2022) (Latest publicly available published labour statistics from MOM)
Gross Monthly Income
( Excluding Employer CPF )
Under $500 46,600
$ 500 – $ 999 96,100
$ 1,000 – $ 1,499 191,400
$ 1,500 – $ 1,999 162,100
$ 2,000 – $ 2,499 184,700
$ 2,500 – $ 2,999 182,100
(Jun 2021)
https://stats.mom.gov.sg/iMAS……/mrsd_2021LabourForce.pdf
Totaling the above, we get 863,000 Employed Residents’ Income below $3,000
Does this mean that about 38.4% (863,000 divided by 2,248,700 total employed residents) earn below $3,000?
The above employed Residents’ statistics do not include the 111,200 Unemployed Residents
https://stats.mom.gov.sg/Pages/UnemploymentTimeSeries.aspx
If we include the 111,200 Unemployed Residents – does it mean that about 974,200 (863,000 + 111,200) earn less than $3,000 or were unemployed, which is about 41.3% (974,200 divided by 2,359,900 (total employed 2,248,700 + unemployed 111,200))?
After deducting the typical 20% employee CPF contribution – the take-home pay may be below $2,400 for those earning below $3,000
Happy New Year!
