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Hardest hit by pandemic, bottom 10pc of households see earnings shrink 6.1pc in 2020 | Malay Mail

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Hardest hit by pandemic, bottom 10pc of households see earnings shrink 6.1pc in 2020

Monday, 08 Feb 2021 04:39 PM MYT

After adjusting for inflation, median household incomes dropped by 2.4 per cent in real terms last year, the first drop in more than 10 years. The last decline, which was also 2.4 per cent, happened in 2009 after the Global Financial Crisis from 2007 to 2008. · The group in the top 10 per cent experienced a 2.3 per cent decline, meaning that each household member took home S$337 less each month last year· The median monthly household income per household member fell from S$2,925 in 2019 to S$2,886 last year. This translates to a 1.3 per cent drop in nominal terms or 1.2 per cent in real terms

· The largest rise in average monthly household income was for those in the 71st to 80th percentile, whose incomes rose by 2.9 per cent

 

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