Chart of the Day: See the declining trend in Singapore employees' working hours
They may approach a five-hour decrease to a 41.9 hours from the usual 45-hour work week by 2030.
This chart from DBS shows the drop in the weekly working hours in Singapore, as well as other Asian countries.
According to DBS, Singapore workers may see a reduction of five hours to 41.9 hours from the usual 45 hour-week by 2030 amidst technological advancements and higher incomes.
“We believe that productivity growth will have a greater influence on shortening working hours at high income levels,” DBS commented.
DBS thinks that with more advanced automation, increased productivity and efficiency from technology and shorter, more flexible working methods will enable Asia to be closer to a 35-hour work week.
However, the bank also noted that there are challenges to Asia’s journey towards a 35-hour work week which involve culture and mindset of policy makers, employers, and employees.
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