South Korean households' income earned through wages and business operations fell for the third straight quarter October through December of last year amid the COVID-19 pandemic.

According to data from Statistics Korea on Thursday, the average household monthly income in the fourth quarter totaled five-point-16 million won, up one-point-eight percent from a year earlier.

Despite the on-year rise, the average income declined for the third consecutive quarter. 

Wage income dipped point-five percent on-year, and income from business operations plunged five-point-one percent, the latter marking the sharpest fall since the agency began compiling related data in 2003.

Transfer income reflecting the government's COVID-19 relief, however, jumped 22-point-seven percent on-year, preventing an overall income decline.

Meanwhile, the average monthly household consumption expenditure stood at two-point-91 million won, down point-one percent from a year earlier, led by falls in spending on education service, clothing, entertainment and traveling.