Employment rates in Singapore are the highest in decade
The numbers have been in part boosted by elderly workers, aged 65 and more. The state programmes aimed at promoting work for the elderly led to a 11% increase in the number of working elder people. For the citizens aged 25 to 64 the employment rate increased from 75.6% in 2009 to 80.5% in 2019. However, for the younger demographic - aged 15 to 24 - the employment rate has decreased. The researchers explain this by citing the longer study time for younger people, both in school and in universities.
The growth has been especially fast in the beginning of the decade. Many people have managed found work on PMETs positions. In 2009 there were 724 800 citizens working in thise sector of the workforce. In 2019 there were 1 050 300.
The income of working Singaporeans has also been on the rise in the last ten years, especially in the second half of the decade. The average growth has amounted to 3.9%, accelerating from 2.1% in the first five years.