Median household incomes in Singapore rose in 2024; resident households received more help from govt schemes
SINGAPORE — Median household employment income grew to $11,297 in 2024, while income inequality fell to its lowest level in 25 years, after accounting for government assistance and taxes.
Figures from the Singapore Department of Statistics (SingStat) also showed that resident households got more money from government schemes, due to support measures rolled out in 2024.
SingStat's Feb 13 report showed that among resident employed households, median monthly household employment income grew by 3.9 per cent in nominal terms, before adjusting for inflation. This was up from $10,869 in 2023.
This is the third year in a row that this figure has breached the $10,000 mark. This figure was $10,099 in 2022.
Median monthly household employment income rose 1.4 per cent in real terms, or after adjusting for inflation, in 2024. Household employment income includes employer Central Provident Fund contributions. This is a slight drop from 2023, when the figure increased by 1.7 per cent.