Going by the most recent Singapore workforce report released on Monday by the Ministry of Manpower (MOM)’s Research and Statistics Department, the economic downturn notwithstanding, the employees in the 55-64 age-group managed to retain the 2008-record high employment rate.

The data, based on the MOM’s Labor Force Survey carried out in mid-2009, revealed that nearly 57.2 percent of the older Singapore labor force remained employed, despite the overall plunge in the employment level in the country, due to the global economic recession.

As per the June 2009 statistics, almost 1.99 million Singapore residents comprised the country’s labor force; out of which 57 percent were males and 43 percent were females.

While the proportion of workers in the 25-64 age-group dropped to 75.8 percent in June from the year-before figures of 77 percent; the job rate for older men interestingly saw a rise from 73.6 percent last year to a new high of 74.7 percent in June this year. This increase counterbalanced the marginal drop in employment rate for older women to 40.1 percent from 40.5 percent.

Commenting on the figures, a Monday statement by MOM said: “The rate for older men in Singapore was also one of the highest internationally. On the other hand, the employment rate among females in Singapore generally lagged those in developed countries such as Sweden, the Netherlands, the UK and the US.”