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Employment rates rise to new highs

SINGAPORE — Amid the tight labour market and low unemployment, the employment rate of residents aged 25 to 64 rose to a new high of 79.7 per cent this year, up from 79 per cent last year and and 72.3 per cent a decade ago, said the Manpower Ministry (MOM) today (Nov 28).

SINGAPORE — Amid the tight labour market and low unemployment, the employment rate of residents aged 25 to 64 rose to a new high of 79.7 per cent this year, up from 79 per cent last year and and 72.3 per cent a decade ago, said the Manpower Ministry (MOM) today (Nov 28).

More women and older residents have joined the workforce. The employment rate of women in their prime-working ages of 25 to 54 rose to a record 76 per cent this year from 74.3 per cent last year. Older residents aged 55 to 64 posted further increases in employment rate, reaching a new high of 66.3 per cent this year from 65 per cent last year.

Overall, the the resident labour force participation rate rose for the third consecutive year, reaching a high of 67 per cent.

The nominal median monthly income from work of full-time employed residents, including employer Central Provident Fund (CPF) contributions, increased by 1.8 per cent to S$3,770 in June, compared to 6.5 per cent in June last year.

After adjusting for inflation, the real median income grew by 0.4 per cent this year, following exceptionally high increases of 4 per cent last year.

The figures were key findings from MOM’s Research and Statistics Department, based on data from the Comprehensive Labour Force Survey conducted in the middle of this year.

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