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 Pound 7,640 and Pound 8,230 respectively. In other words, in 2015/16 half of all full-time employees earned less than Pound 7,640, and half earned more, while in 2016/17 half earned less than Pound 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.
Source: St Helena Government