Chart of the Day: Number of potential entrants to labour force hit all-time low
Rising population ageing contributed to the decline.
This chart from the Ministry of Manpower (MOM) reveals that the number of potential entrants, or those outside the labour force who are not currently seeking a job but are planning to work within the next two years, stood at 128,600 or 12% of those outside the labour force as of June 2019. This was said to be the lowest on record since 2006.
This was mainly attributed to a rising labour force participation and population ageing. The incidence of potential entrants aged 25 to 29 ranged 43%, whilst those in their 50s and aged 60 took up 16% and 3.9%.
There were 1.09 million or 32% of residents aged 15 or older that were outside the labour force in June. Almost half or 46.5% were 60 years old above, with many of them have retired. Over two in five also held below secondary qualifications.
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