Employment hits record high as women, older residents flood the workforce

Over 6 out of 10 older residents are now working.

The employment rate rose to a new high, as more women and older residents were in the labour force amid a tight labour market and low unemployment.

According to data released today by the Ministry of Manpower, the resident labour force participation rate rose for the third successive year to a new high of 67.0% in 2014, driven by continued increases for women and older residents.

As labour force participation rose and the labour market stayed tight with low unemployment, the employment rate of residents aged 25 to 64 rose to a new high of 79.7% in 2014, up from 79.0% in 2013 and 72.3% in 2004. 

The employment rate of women in their prime-working ages of 25 to 54 rose from 74.3% in 2013 to a record 76.0% in 2014.

Older residents aged 55 to 64 posted further increases in employment rate, reaching a new high of 66.3% in 2014 from 65.0% in 2013.