Singapore residents income growth slows to 2.2 per cent in 2019

Bloomberg Singapore | Updated on November 28, 2019 Published on November 28, 2019

Income growth in Singapore slowed sharply this year as the labour market softened, according to preliminary data from the Ministry of Manpower.

Real median income of full-time employed residents weakened to 2.2 per cent in June 2019 from 4.4 per cent in the same period last year, the ministry said in a statement Thursday.

In the five years through June 2019, income growth was 3.8 per cent versus 1.9 per cent in the previous five years. The unemployment rate for professionals, managers, executives and technicians, or PMETs, remained steady at 2.9 per cent in June 2019 from a year ago Jobless rate for non-PMETs rose to 4.7 per cent from 4 per cent in the period.

The data is based on a labour force survey conducted in the middle of the year, and a final report of the survey findings will be published in January.

Published on November 28, 2019
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