Written Answer to PQ on Financial Sector Statistics
NOTICE PAPER NO. 2635 OF 2024 FOR SITTING ON 06 MAR 2024
QUESTION NO. 5628 FOR WRITTEN ANSWER
MP: Mr Patrick Tay Teck Guan
To ask the Minister for Manpower as of 31 December 2023 (a) what is the total workforce size in Singapore’s financial sector; (b) what is the breakdown of this total by (i) nationality (ii) gender and (iii) age; and (c) what is its breakdown according to the various industry segments such as banking, asset management, insurance companies, real estate brokers, consumer finance companies, moneylenders, real estate investment trusts and fintech firms.
Answer:
1 The data requested by the Member are provided below.
Table 1: Breakdown of Total Workforce in Singapore’s Financial Sector by Nationality, Gender, Age Groups and Industry Segments
Thousands
| |
As at Dec 2023 P |
| Total |
229.1 |
| Nationality |
|
| Residents |
190.6 |
| Non-Residents |
38.5 |
| Gender |
|
| Male |
115.3 |
| Female |
113.8 |
| Age Groups |
|
| Below 30 |
35.0 |
| 30 - 39 |
78.6 |
| 40 & Over |
115.4 |
| 40 - 49 |
63.7 |
| 50 & Over |
51.7 |
| 50 - 59 |
34.9 |
| 60 & Over |
16.9 |
| Industry Segments |
|
| Financial Services |
184.8 |
| Insurance Services |
44.2 |
Source: Administrative Records and Labour Force Survey, Manpower Research & Statistics Department, MOM
P: Preliminary
Note: Data are primarily from administrative records, with the self-employed component estimated from the Labour Force Survey.