1. Chapter 4 Demand and Supply of Labour

2. Labour Shortage increase supply Part time employment Flexi-time Back-to-work program More childcare centres Retain older workers Employ foreign workers Recruit overseas

3. Overcome Labour Shortage Increase productivity Automate Relocate - Shift to high-value industries - Part-time workers - Extend retirement

4. Table 4-1 Age-Sex Specific LFPR (%) (more older workers, 2005 Age groupMaleFemale 50-5490.854.0 55-5976.438.0 60-6451.319.6 65-69 70-74 75 & above 31.3 15.7 6.5 9.7 4.2 1.2 All age groups78.256.6

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

6. Problems of Older Workers Age discrimination Wages too low Lack necessary skills Unable to cope

7. Reasons for Not Employing Old Workers Wages higher than younger workers Availability of female & foreign workers Lower adaptability and performance

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

9. Table 4-3 GERD as % of GDP YearGERD ($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