Speech by Mr Edwin Tong, Minister for Culture Community and Youth & Second Minister for Law at the Closing Plenary of the Institute of Policy Studies (IPS) Young Singaporeans Conference 2020
1 Real GDP per capita increased by 25% from 2010 to 2019. Real median income for full-time employed residents (including employer CPF) increased by 33% from 2010 to 2019.
2 Between June 2014 and June 2019, employment incomes rose across the board, with annualized income growth for full-time employed residents increasing at 3.8% per annum. Income at the 20th percentile rose faster than at the median, increasing at 4.4% per annum over the same period.
3 The Gini coefficients of Norway, Denmark and the United States are based on household income from all sources among all households. Singapore’s Gini coefficient is based on monthly household income from work (including employer CPF) among resident employed households.
4 As measured by the question: “Please imagine a ladder with steps numbered from 0 at the bottom to 10 at the top. The top of the ladder represents the worst possible life for you. On which step of the ladder would you say you personally feel you stand at this time?”.
5 Lawton, R.N., Gramatki, I., Watt, W. et al. Does Volunteering Make Us Happier, or Are Happier People More Likely to Volunteer? Addressing the Problem of Reverse Causality When Estimating the Wellbeing Impacts of Volunteering. Journal of Happiness Studies (2020).
6 IMH’s Singapore Mental Health Study, 2016.