Real household income declines in Singapore for first time in more than 10 years

Median monthly household income from work per household member dropped from $2,925 in 2019 to $2,886 last year. - ST

SINGAPORE (The Straits Times/ANN): The Covid-19 pandemic hit Singapore households hard last year, with overall median household income from work falling by 2.5 per cent in nominal terms from S$9,425 to $9,189.

After taking into account inflation, this works out to a 2.4 per cent drop in real terms - the first such decline in more than 10 years, since after the economy was battered by the global financial crisis.