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Tuning up S’pore’s twin economic engines of labour force and productivity
This week, Insight examines the role of the workforce in growing Singapore’s economy and how to deal with looming challenges to its capacity to generate growth as well as ensure this growth is inclusive.
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Multiple measures are needed to promote robust, sustained growth. Yet, complex interactions between these measures could arise.
ST PHOTO: KUA CHEE SIONG
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SINGAPORE – Theory holds that economic growth is driven by the labour force and its productivity.
To this end, policymakers can grow the size of the labour force or target productivity rises.
