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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.
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La tasa de participación en la fuerza de trabajo de Singapur disminuye al 68,2%, impulsada por una población envejecida.