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3/03/2007

middle income earnings

Lag in middle income growth These are the statistics on income per household member per month published in the ST today. 31st to 40th percentile $960 41st to 50th percentile $1180 81st to 90th percentile $3190 91st to 100th percentile $6990 A family of 4 with a $6990 per household income will be getting a household income of $27,960 per month. Not bad at all. What about those with $1 million annual household income or more? The 100th percentile gives the impression that the richest Singaporean earns a household income of $27,960 per month. Off hand I can think of at least a handful of people earning $2 million and above per annum. This will give a per household member income of $500,000 each per annum or more than $40,000 per household member per month. Official numbers in the ST has reported that there are several thousand millionaires in our midst. Looks like all the millionaires are not included in the numbers. Or the numbers are strictly just on middle income earners.

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