President Moon, “The result of combining policies with a surviving economy” in household income growth statistics


President Moon Jae-in shared his statistical data with the National Statistical Office, saying that household income has increased, and he said, “I am very happy.”

President Moon introduced a social media post on Facebook today (18th) by Deputy Prime Minister Hong Nam-ki of the National Statistical Office’s ‘3rd Quarter Household Trend Survey’, who evaluated it as ‘a significant improvement in major indicators related to income and distribution’. mentioned this:

President Moon said, “This is the most desirable direction for our economy to move forward,” adding, “It is a result of the ideal combination of various policy effects in a revitalizing economy.”

He wrote, “I hope that these good results will continue beyond the fourth quarter and lead to improvement in people’s lives.”

According to data released by the National Statistical Office, the income of the bottom 20% (1st decile) in the third quarter of this year increased to an all-time high.

Although market income increased due to the economic recovery, analysis shows that the national subsidy, which paid 250,000 won to 88% of the people, had a big impact.

The average monthly income of households in the first income quintile during the third quarter was 1142,000 won, up 21.5% from a year ago.

This is the highest increase since 2006 when the statistical study began.

The equivalised disposable income quintile multiplier, an indicator of how many times the income of the top 20% is that of the bottom 20% after dividing a household’s disposable income by the number of household members, was also 5.34 times, lower than 5.92 times a year ago.

(Photo=President Jae-in Moon’s Facebook capture, Yonhap News)

Leave a Reply

Your email address will not be published. Required fields are marked *