In the latest official statistics on income growth released today (Feb 8), the rich saw higher income growth, with the 81st to 90th percentile income earners seeing a 4.5% growth. The poorest 1st to 10th percentile income earners saw the lowest income growth at 2.1%.
Singapore’s widening inequality has also worsened, with the GINI coefficients rising to 0.459 in 2017. The government however fudged the data with “accounting for government transfers and taxes”, and claimed that the “real inequality” is actually 0.401. Singapore is the only government to introduce this “real inequality” measurement.
The Singapore government covered up income growth statistics for individuals, and instead declared only “household income”. The average household size is 3.3 in 2017, but a division of household income will be inaccurate to reflect the actual earning income of the average Singaporean. There is also no statistics on purchasing power – a common income measurement in other countries.
The Department of Statistics also dishonestly fudged the definition of household income growth, introducing “household income from work“, which is to lower the real income growth of the rich who mostly grow their income from non-work income like investment returns like dividends and capital growth.
The dishonest government department also cherry picked post-recession high in 2012 to back it’s propaganda statement that income growth has risen:
“From 2012 to 2017, median monthly household income from work rose by 15.5 per cent cumulatively in real terms, or 2.9 per cent a year.”