SINGAPORE, Feb. 13 (Xinhua) -- Singapore's median household employment income grew in 2024, according to the latest figures released by the Singapore Department of Statistics on Thursday.

For resident-employed households, median monthly household employment income rose by 3.9 percent in nominal terms, from 10,869 Singapore dollars (about 8,043 U.S. dollars) in 2023 to 11,297 Singapore dollars in 2024. After adjusting for inflation, the increase was 1.4 percent.

Over the five-year period from 2019 to 2024, median monthly household employment income grew by a cumulative 3.6 percent, or 0.7 percent annually in real terms.

When accounting for household size, the median monthly household employment income per household member increased from 3,500 Singapore dollars in 2023 to 3,615 Singapore dollars in 2024, representing a 3.3 percent rise in nominal terms or 0.8 percent in real terms.

From 2019 to 2024, the median income per household member grew by 6.8 percent cumulatively, or 1.3 percent annually in real terms.

In 2024, the average household employment income per household member increased across all income deciles for resident-employed households, with nominal growth ranging from 3.0 to 5.9 percent, or 0.6 to 3.2 percent in real terms.

Between 2019 and 2024, the average income per household member in the first nine income deciles grew by 0.3 to 1.9 percent annually in real terms, while households in the top decile experienced a decline of 0.7 percent annually. (1 Singapore dollar equals 0.74 U.S. dollars) Enditem

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