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Workforce growth likely to fall to 1-2% in next five years

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Mr Lim said a mindset shift must take place in which companies keep improving their human resource practices so that they have a strong Singaporean core as well as a strong commitment to keep investing in human capital.

Singapore

SINGAPORE'S total annual workforce growth is expected to continue on its downward trend to 1-2 per cent between 2016 and 2020 - and this decline is likely to continue beyond that period as the local workforce growth will eventually stagnate, with baby boomers entering retirement