Real household income growth among advanced economies

Annualised from 2013 to 2023 (% per annum)

NOTES:

1. Income growth rates for Finland and Japan are computed using the average household incomes of the 2nd, 5th and 8th deciles, while income growth rates for other economies are computed based on household incomes at the 20th, 50th and 80th percentiles. Data for Singapore is for resident employed households.

2. Where possible, household income growth has been adjusted to account for household size differences across income groups. Data for Singapore is based on household income per member, while data for Finland and the United Kingdom is based on income equivalised using the modified-OECD scale. Data for the United States and Japan refers to total household income.
Chart: STRAITS TIMES GRAPHICS Source: DOS, MOF’S ESTIMATES USING AVAILABLE DATA FROM NATIONAL STATISTICAL OFFICES