Chapter 4 Demand and Supply of Labour. Labour Shortage increase supply Part time employment Flexi-time Back-to-work program More childcare centres Retain.

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Presentation transcript:

Chapter 4 Demand and Supply of Labour

Labour Shortage increase supply 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 groupMaleFemale & above All age groups

Reasons: Not Returning to Work No suitable jobs near home45% Few Part-time jobs40% Lack skill or qualification35%

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

R ole of A*STAR Foster research Develop talent To support knowledge-based economy

Table 4-3 GERD as % of GDP YearGERD ($million) GERD as % of GDP ,010 3,233 3,405 3,