Labor force employment rate Singapore 2014-2023

In 2023, the labor force employment rate of those aged 15 years and above in Singapore was 66.2 percent. Singapore has enjoyed a relatively stable employment rate. In the face of a rapidly aging population, however, it faces higher demand for labor in the workforce. 

Aging population

While Singapore is likely to continue with the strategies of migration and input from foreign labor supply as a means to maintain labor force growth, there is a need to expand the resident labor force at the same time by tapping older age groups as well as women. The minimum retirement age in Singapore is set at 62 years old, however 31.5 percent of residents aged 65 years old were still employed or seeking employment. A profile of older workers in Singapore showed that a large proportion of the current cohort of workers tend to be less educated, and thus many are employed in low-skilled jobs and hence receive lesser wages. It is thus a challenge to raise labor productivity and to enhance their long-term employability in an unstable economic climate.

Women in the workforce

The female labor force participation rate in Singapore places the city-state behind countries in the APAC region like Vietnam, Cambodia and New Zealand despite higher education attainment amongst women in recent years. The gender gap in the local labor force only emerges when women enter their 30s. In addressing this issue, ad hoc flexible work arrangements, such as unplanned time-off and telecommuting were introduced in recent years. Singapore has also implemented several enhanced maternity benefits and leave schemes for working parents.