The Department of Statistics has just released the 2014 Household Income Survey. I feel the survey is more comprehensive than the last one, although there are still a few improvements I would like to see made.
Anyway, with the release, I thought I should update an old chart I drew some time back.
Here is the latest household income distribution according to income brackets. One household comprises of 4.3 persons.
I will not go deep into it at the moment but I am bit curious at the strength of income growth since 2012. Specifically, I am thinking of the pace at which share of the lower brackets has come down since the last survey.
I am less puzzled by the 2009 level because a recession happened that year. Growth tends to be stronger post recession, versus other times, under normal circumstances/recovery.
I am thinking of correcting the charts for inflation later. Maybe that would make the three-survey comparison better and make the distribution less surprising.
Yes, I know that the media has reported earlier that the median has grown to RM4,858 in 2014 from RM3,262 in 2012. But it was only after I saw the graphical representation that I realized how strong the growth was, which in turn, made me skeptical.
If you are interested in the full spectrum of the 2014 household income distribution, here it is:
