Written Answer by Mr Lim Swee Say Minister for Manpower on Statistics of Workers in the Finance Industry
Notice Paper no. 901 of 2017 For the Sitting On 06 November 2017
Question No. 661 for Written Answer
MP: Miss Cheryl Chan Wei Ling
To ask the Minister for Manpower Minister for Manpower (a) from 2012 to 2017, what is the proportion of contract versus permanent workers in the finance industry; (b) what is the breakdown of locals and foreigners in this sector over the same period; and (c) what percentage of experienced workers in finance and below 40 years of age continue to remain within the industry.
1.Consistently between 2012 and 2016, over 90% of the local workforce in the financial and insurance services sector were permanent workers. In addition, locals accounted for more than 80% of the workforce in this sector. Among all local workers aged below 40 who were in the financial and insurance services sector in 2012, close to 70% were still working in the same sector in 2016.