In 2023, approximately *********** employed residents aged 15 years and above in Singapore worked in the services sector, making it the biggest sector of employment there. Singapore's economy is largely services-based, with the financial services being one of the most important sectors.

The statistic shows the distribution of employment in Singapore by economic sector from 2013 to 2023. In 2023, 14.38 percent in industry and 85.52 percent in the service sector.

In 2023, the labor force employment rate of those aged 15 years and above in Singapore was 66.2 percent. Singapore has enjoyed a relatively stable employment rate. In the face of a rapidly aging population, however, it faces higher demand for labor in the workforce. Aging population While Singapore is likely to continue with the strategies of migration and input from foreign labor supply as a means to maintain labor force growth, there is a need to expand the resident labor force at the same time by tapping older age groups as well as women. The minimum retirement age in Singapore is set at 62 years old, however 31.5 percent of residents aged 65 years old were still employed or seeking employment. A profile of older workers in Singapore showed that a large proportion of the current cohort of workers tend to be less educated, and thus many are employed in low-skilled jobs and hence receive lesser wages. It is thus a challenge to raise labor productivity and to enhance their long-term employability in an unstable economic climate. Women in the workforce The female labor force participation rate in Singapore places the city-state behind countries in the APAC region like Vietnam, Cambodia and New Zealand despite higher education attainment amongst women in recent years. The gender gap in the local labor force only emerges when women enter their 30s. In addressing this issue, ad hoc flexible work arrangements, such as unplanned time-off and telecommuting were introduced in recent years. Singapore has also implemented several enhanced maternity benefits and leave schemes for working parents.

In 2022, the cost of labor per employee in the services industry of Singapore amounted to approximately ****** Singapore dollars. The majority of the Singapore labor force was employed in the services sector in that year.

Employment: SE: IT & Other Information Services data was reported at 94.400 Person th in Mar 2018. This records an increase from the previous number of 92.700 Person th for Dec 2017. Employment: SE: IT & Other Information Services data is updated quarterly, averaging 72.750 Person th from Dec 2008 (Median) to Mar 2018, with 38 observations. The data reached an all-time high of 94.400 Person th in Mar 2018 and a record low of 50.900 Person th in Dec 2008. Employment: SE: IT & Other Information Services data remains active status in CEIC and is reported by Ministry of Manpower. The data is categorized under Global Database’s Singapore – Table SG.G012: Employment: By Industry: SSIC 2010.

In 2023, about ******* residents in Singapore aged 15 years and above were employed as professionals, making it the biggest occupation group in Singapore. By comparison, about *** Singapore residents aged 15 years and above worked in other areas such as the agricultural and fisheries sector. Singapore's workforce is largely made up of skilled workers.

Employment in agriculture (% of total employment) (modeled ILO estimate) in Singapore was reported at 0.0913 % in 2023, according to the World Bank collection of development indicators, compiled from officially recognized sources. Singapore - Employment in agriculture (% of total employment) - actual values, historical data, forecasts and projections were sourced from the World Bank on August of 2025.

According to Cognitive Market Research, the global HSE consulting & training services market size was USD 41.9 billion in 2022 and will grow at a compound annual growth rate (CAGR) of 7.10% from 2023 to 2030. Factors Affecting HSE Consulting and Training Services Market Growth

Increase in Stringent Government Regulatory Compliances to Fuel Market Growth

Governments have imposed different rules and regulations on various organizations to implement enterprise risk management through a flexible, easy-to-use information system. This helps companies evaluate, identify, analyze, and consider opportunities and risks to protect corporate brands and create shareholder value. Furthermore, different rules and regulations imposed by governments in different countries affect the growth of risk management software.

For instance, the Singapore government has introduced a new regulatory framework that uses civil and criminal measures for financial benchmark manipulation.

(Source:www.pinsentmasons.com/out-law/news/singapore-set-to-criminalise-manipulation-of-financial-benchmarks)

The Factors Hindering the Growth of the HSE Consulting & Training Services Market over the projected period

Lack of Skilled Workplace Safety to Hinder Market Growth

Safety professionals have dedicated niche jobs to help with specific workplace health and safety-related tasks. Workplaces face several challenges regarding HSE training and consulting services, which can instantly impact workers physically and mentally. Upskilling employees in health, safety, and well-being can particularly help mitigate the risks associated with these challenges. With rapidly developing workplaces, safety professionals are now assigned numerous responsibilities. Organizations must direct safety professionals toward utilizing tools and resources that can be incorporated into workplace safety solutions to enhance worker lives. Safety professionals prepared with all these skill sets are challenging to find. However, that is starting to change, as many other businesses realize the requirement for employing professionals to control costly accidents to employees and employment. Employers are preparing the current safety professionals to provide them with the required skill set. Health and Safety officials are required in every industry to satisfy regulatory requirements.

Impact of the COVID-19 Pandemic on the Consulting & Training Services Market

The emergence of COVID-19 considerably impacted the growth of the HSE consulting & training services market. Spending on the risk management software industry was increased compared to spending planned before the pandemic, owing to numerous factors such as growth in work-from-home culture among industries and a rise in the risk of cyber-attacks and other security issues. Furthermore, the COVID-19 pandemic has radically changed the daily lives of people, work, and the surrounding environment. What is the HSE meaning?

HSE consulting and training services provide the broadest range of general and specific health, safety & environmental services across the globe. This service has used the enhancement of the services and productivity of any firm. With technological advancement in this industry, there is various AI-enabled software available in this industry. With organizations recognizing that a proactive approach to injury prevention and treatment reflects an institution's commitment to employee well-being, HSE consulting & training services have evolved into an on-the-job priority.

According to the Health and Safety Executive, Britain's national regulator for workplace health and safety, in 2021-2022, 565,000 working people sustained an injury at work, according to the Labor Force Survey.

(Source:www.hse.gov.uk/statistics/)

Value added per worker, expressed in 2010 market prices. Value added refers to the aggregate value of goods and services produced in the economic territory of Singapore. Worker refers to the number of persons in employment. Estimates are compiled based on the best available data at the time of release. They may be subsequently revised when new data becomes available.

Labour Costs in Singapore increased to 125.90 points in the first quarter of 2025 from 118.80 points in the fourth quarter of 2024. This dataset provides - Singapore Labour Costs - actual values, historical data, forecast, chart, statistics, economic calendar and news.

As of 2024, **** percent of the labor force in Singapore had a university degree or higher. Singapore has increased the share of degree holders in the labor force in the past decades, upskilling its workforce to meet the demands of a more sophisticated economy.

As at December 2023, there were ******* work permit holders for the construction and marine shipyard and process industry. Singapore's construction sector relies heavily on migrant labor, the majority of whom come from neighboring Asian countries such as Bangladesh, India, and Myanmar. Many experienced several challenges in Singapore, including harsh working and living conditions, discrimination, as well as health risks. Construction work Foreigners outnumber residents working in the construction sector in Singapore by a large margin. The majority of them engage in physically demanding and dangerous labor. While construction sites have gotten safer in the past few years, there were still cases of fatal accidents in construction work. This is hardly surprising given the long hours worked, coupled with the physical intensity of the job. Singapore and the migrant worker community Such jobs have long been hard to fill with just the local labor force. Furthermore, increased economic growth has led to an increase in average wages for the resident population. To keep labor costs low, the construction sector employs cheaper labor from other Asian countries. However, this has led to certain prejudices forming and friction between the residents as well as the migrant worker communities. Migrant workers in construction, shipyard and processes are usually housed in crowded dormitories away from local residential areas. This further underlines the segregation between the local residents and the migrant workers.