Middle-income earners in S’pore see fastest salary growth

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.