Update: Income inequality in Singapore falls to 20-year low

Singapore's weakening economy last year appeared to have hit administrative and managerial workers especially hard.PHOTO: ST FILE

SINGAPORE, Feb 20 (Straits Times/ANN) - Income inequality in Singapore tapered to its narrowest in almost two decades, after income for the bulk of households rose by up to 5.6 per cent while the top 10 per cent saw their income grow just 0.4 per cent.

The Gini coefficient - which measures income inequality from 0 to 1, with 0 being most equal - fell to 0.452 last year, lower than 0.458 in 2018 and the lowest since 2001, according to the Department of Statistics' Key Household Income Trends report released on Thursday (Feb 20).