The Ministry of Manpower released today (29 November) an advanced report on Singapore’s labour market.
Workers continue to earn higher incomes in the recent five years – increasing about 3.5% per year from 2013 to 2018.
Things continue to be on an upswing, with the employment rate remaining high for Singaporean employees. Employment has also risen for elderly workers (aged 65 and over). However, the ageing population continues to gradually shrink the labour market.
Unemployment is also under control for both PMETs and non-PMETs. Despite this, there remains a group who face greater difficulty returning to the workforce.