22 June 2018
New estimates of average incomes from full-time employment for the 2015/16 and 2016/17 financial years have today been released by the Statistics Office.
The estimated median annual before-tax income rose in both the 2015/16 and 2016/17 financial years, to £7,640 and £8,230 respectively. In other words, in 2015/16 half of all full-time employees earned less than £7,640, and half earned more, while in 2016/17 half earned less than £8,230 and half earned more.
The median gross income for 2016/17 was 7.7% higher than 2015/16, and the 2015/16 median was 4.5% higher than the previous year. When the average increase in prices in those two years is taken into account, the estimated ‘real’ annual growth in incomes from employment was 3.4% for 2016/17, and 3.1% for 2015/16.
The estimates are derived from records maintained by the Income Tax Office using methodology consistent with previous releases. Only incomes from employment above an analysis cut-off (set around the level of the Minimum Income Standard) are included; any income from self-employment and investment is excluded. Incomes of Technical Cooperation Officers are also excluded.
More detailed statistics on incomes, including the distribution and the difference between men and women, are available in the latest Statistical Bulletin 6 here: https://www.sainthelena.gov.sh/statistical-bulletin-no-6-2018-incomes/ A data file is available at: https://www.sainthelena.gov.sh/statistics-data/
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22 June 2018