Inequality also fell, as measured by the Gini coefficient, a measure of inequality that ranges from zero with total equality to one with total inequality. It fell from 0.478 in 2012 to 0.463 in 2013. If government transfers and taxes are taken into account, the Gini coefficient for 2013 would be 0.412.
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Here is the press release from Singapore Department of Statistics:
Key household income trends, 2013
Median Household Income Grew in 2013
Median household income from work increased in nominal and real terms in 2013.
On average, resident households in HDB 1- & 2-room flats also received more transfers per household member from Government schemes in 2013.
These are the key findings from the Singapore Department of Statistics' latest report on "Key Household Income Trends, 2013".
The report is available online on the Department's website at http://www.singstat.gov.sg.
Median Household Income Grew
Among resident employed households, median monthly household income from work increased from $7,570 in 2012 to $7,870 in 2013, a 4.0 per cent growth in nominal terms, or 1.6 per cent in real terms.
Over the last 5 years from 2008 to 2013, the median monthly household income from work of resident employed households rose by 11 per cent in real terms.
Taking household size into account, median monthly household income from work per household member increased by 5.6 per cent in nominal terms, or 3.2 per cent in real terms in 2013.
Households in Smaller Types of Dwelling Received More Government Transfers
Various Government schemes gave a boost to resident households staying in smaller types of dwelling. Resident households in HDB 1- & 2-room flats received $8,630 per household mem ber on average from Government schemes in 2013, higher than the $7,210 given in 2012.
Increase in Real Household Income per Household Member for Almost All Deciles
Resident employed households in the first 9 deciles enjoyed nominal and real growth in average household inco me per household member in 2013.
Over the last 5 years, there has been an increase in real incomes across all income deciles.
The Gini Coefficient Decreased in 2013
The Gini coefficient decreased from 0.478 in 2012 to 0.463 in 2013.
After adjusting for Government transfers and taxes, the Gini coefficient in 2013 fell from 0.4 6 3 to 0.412, reflecting the redistributive effect of Government transfers.