From Financial Times

I make it a point to read every other newspaper whenever I fly (being in the airline lounge or the hotel gets me access to other newspapers around the world) but haven't flown in the last 2 weeks.... but managed to be pointed to this from another local blog... I've always known about much of these but I wonder how many of you out there actually know of it and are still in the dark? Article was a whole lot critical, not like what we are used to in the local press....

-Although unemployment is low at 3.4%, the rate is nearly double for those over 40 with little education.
-A recent government survey showed that the income of the poorest 20% fell nearly 15% in nominal terms between 1998 and 2003 to an average of US$505 per month.

-Although Singaporeans have one of the world's highest rates of home ownership, at more than 90%, house prices have fallen by 30% since the mid-90s, meaning many are sitting on paper losses.

-Households in the top 20% earned about 21 times as much as those in the lowest 20% in 2000, a government survey shows.

-In 2004 Singapore had the world's sharpest rise in the number of millionaires at 22%, according to the latest World Health report by Merrill Lynch & CapGemini.

-Days before the elections, the PAP distributed S$2.6bn in cash as "Progress Package" payments with a focus on the needs.


http://news.ft.com/cms/s/cde29cb0-db09-11da-aa09-0000779e2340,s01=1.html (with subscription)

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