Faced with slowing economic growth and a quickly aging population, Singapore has aimed to pivot towards developing an innovation ecosystem and boosting productivity.
But part of that drive has included changing the measuring sticks for success.
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Faced with slowing economic growth and a quickly aging population, Singapore has aimed to pivot towards developing an innovation ecosystem and boosting productivity.
But part of that drive has included changing the measuring sticks for success.
SINGAPORE: Households across all income groups earned more last year, with those in the lowest 30 per cent and top 10 per cent seeing the fastest real income growth, according to official data released on Friday (Feb 26).
Based on the Department of Statistics' annual Key Household Income Trends survey, the median household income from work rose to S$8,666 last year, up S$374 from S$8,292 in 2014. This is an increase of 4.5 per cent in nominal terms, or an increase of 4.9 per cent in real terms, after accounting for inflation.