An analysis of average incomes showed that nominal income, meaning it is not adjusted for inflation, for the “broad middle” group climbed 42%, topping the 36% growth for earners in the lower and higher brackets, the central bank said. — The Straits Times
SINGAPORE: Salary growth among middle-income workers here outpaced that of other income groups between 2011 and 2021, according to the Monetary Authority of Singapore (MAS) in a report.
An analysis of average incomes over that period showed that nominal income, meaning it is not adjusted for inflation, for this “broad middle” group climbed 42%, topping the 36% growth for earners in the lower and higher brackets, the central bank said in its biannual macroeconomic review released on Monday.
