Transcript LABOUR SHORTAGE - increase supply

Chapter 4
Demand and Supply of Labour
Labour Shortage
increase supply
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Part time employment
Flexi-time
Back-to-work program
More childcare centres
• Retain older workers
• Employ foreign workers
• Recruit overseas
Overcome Labour Shortage
• Increase productivity
• Automate
• Relocate
- Shift to high-value industries
- Part-time workers
- Extend retirement
Table 4-1
Age-Sex Specific LFPR (%)
(more older workers, 2005
Age group
50-54
Male
90.8
Female
54.0
55-59
76.4
38.0
60-64
51.3
19.6
65-69
70-74
75 & above
All age groups
31.3
15.7
6.5
78.2
9.7
4.2
1.2
56.6
Reasons: Not Returning to Work
No suitable jobs near home 45%
Few Part-time jobs
40%
Lack skill or qualification
35%
Problems of Older Workers
• Age discrimination
• Wages too low
• Lack necessary skills
• Unable to cope
Reasons for Not Employing
Old Workers
• Wages higher than younger
workers
• Availability of female & foreign
workers
• Lower adaptability and
performance
Role
of A*STAR
• Foster research
• Develop talent
• To support knowledge-based economy
Table 4-3
GERD as % of GDP
Year
GERD
($million)
GERD as % of GDP
2000
2001
2002
2003
2004
3,010
3,233
3,405
3,424
4.062
1.89
2.10
2.15
2.13
2.25