Chart of the Day: Median monthly income rises to $4,050 in June 2017

Thanks to economic growth and the changing composition of the workforce.

This chart from the Ministry of Manpower shows that the gross monthly income of full-time employed Singaporeans within the median income distribution rose to $4,050 in June 2017.

This is 5.9% YoY higher, or 5.3% YoY higher in real terms, than $3,823 in June 2016.

This was higher than the 0.7% increase from June 2015 to June 2016, and could reflect the pick-up in economic growth, changing composition of the workforce and continued restructuring of the economy.

MoM said the gross monthly income includes employers’ CPF contributions, income received from more than one job and any movement in income as a result of job changes.

The median income is the income such that half of the workers earn less and the other half earn more. Thus the change in median income is different from the mean change in wages, which is the average of all the wage changes of the population considered.