Singapore's labor force participation rate drops to 68.2%, driven by an aging population.

Singapore's labor force participation rate for residents aged 15 and above fell to 68.2% in 2024, declining for the third consecutive year. This drop is mainly due to the increasing number of seniors who are less likely to be employed or seeking work. The old-age support ratio among residents has also fallen from 6.0 in 2014 to 3.5 in 2024. However, when including non-resident workers, the ratio rises to 5.2. Despite the decline, Singapore's labor force participation rate remains higher than in many other major cities.

November 28, 2024
11 Articles

Further Reading