Household incomes in Guernsey fall by 7% in 2019-2020

Household incomes in Guernsey fell by about 7% during 2019 to 2020, a report has said.

The household income report said that some 75% of households in the lowest earning brackets lost revenue, while just 20% of highest earning homes did.

The bottom 20% of all households by income had an upper boundary of £32,811 in 2019, while the lower boundary in the top 20% was £89,000, it also said.

The average wage in June 2021 was £36,018.

For households that were in the lowest income quintile, 38% of the gross income was derived from old age pensions and 46% was classified as private income.

Benefits, excluding old age pensions, accounted for 16%, the report said.

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