Singapore sees a y-o-y positive trend in median gross monthly income across all age groups

That said, Manpower Minister Tan See Leng said it is "sensible" to examine the trend of wage growth over a longer period of time, instead of annually, as "the annual numbers are sometimes subjected to wider fluctuations".

Singapore's Minister for Manpower Dr Tan See Leng, during a parliamentary sitting on 1 August 2022, was asked whether the Ministry of Manpower (MOM) collects data on real wage growth based on different age groups in Singapore.

This question was posed by Hazel Poa, a non-constituency member of parliament (NCMP), who wanted to understand what the real wage increase was for each year from 2000 to 2021 for those aged 29 and below; aged 30 to 39; aged 40 to 49; aged 50 to 59, and aged 60 and above respectively.

In response, Minister Tan explained that MOM publishes the median gross monthly income from work in its annual reports on the labour force in Singapore.

He added that it is "sensible" to examine the trend of wage growth over a longer period of time, instead of annually, as "the annual numbers are sometimes subjected to wider fluctuations".

With regard to Poa's specifics, the Minister shared that the real annualised change in median gross monthly income from work (including employer CPF contributions) of full-time employed residents by age is as follows:

• Aged 29 and below -
  • 2001 to 2011: -0.6
  • 2011 to 2021: 1.9
  • 2001 to 2021: 0.6
    
    
• Aged 30 to 39 -
  • 2001 to 2011: 1.8
  • 2011 to 2021: 1.8
  • 2001 to 2021: 1.8
    
    
• Aged 40 to 49 -
  • 2001 to 2011: 2.7
  • 2011 to 2021: 4.3
  • 2001 to 2021: 3.5
    
    
• Aged 50 to 59 -
  • 2001 to 2011: 0.8
  • 2011 to 2021: 4.2
  • 2001 to 2021: 2.5
    
    
• Aged 60 and above -
  • 2001 to 2011: 2.2
  • 2011 to 2021: 3.1
  • 2001 to 2021: 2.6

It is important to note that 'gross monthly income' refers to income earned from employment.

For 'employees', it refers to the gross monthly wages or salaries before deduction of employee CPF contributions and personal income tax. It comprises basic wages, overtime pay, commissions, tips, other allowances, and one-twelfth of annual bonuses.

On the other hand, 'self-employed persons' it refers to the average monthly profits from their business, trade, or profession (i.e. total receipts less business expenses incurred) before deduction of income tax.

As well, the term 'residents' refers to Singapore Citizens and Permanent Residents; and the data also excludes full-time national servicemen.

Previously: Minister Tan See Leng addresses queries on EP and work pass holders, as well as unvaccinated employees in Singapore

Image / Shutterstock

Follow us on Telegram and on Instagram @humanresourcesonline for all the latest HR and manpower news from around the region!