That could have implications for jobs in certain areas, the IFG added, as it highlighted the shrinking workforces of local government and in social work while education employment had risen since the last spending review.
The stark warning was referring to the worsening shortfall of office space in the city, which has driven rents to stratospheric levels, sent vacancy rates to record lows (despite the shrinking workforces in the finance sector), and prompted some companies to mull alternatives.
Which one would you like?" Mitsubishi UFJ is one of several Japanese firms that are investing in "non-human resources" amid calls by the prime minister, Shinzo Abe, for the country to embark on a "robot revolution" to counter the country's shrinking workforce and boost growth.
The first is how to achieve economic growth (and afford social benefits) in the face of a shrinking workforce.
Boosting productivity to counter the effects of a shrinking workforce will require a cultural revolution, especially in business.
The report, Envisioning a 21st Century Science and Engineering Workforce for the United States, describes "a shrinking workforce [and] an unprecedented labor shortage".
In the future we will have to depend on immigrants to make up our numbers, for without them Singapore will face the prospect of a shrinking workforce and a stagnant economy.
Analysts have said the data shows that Japan needs reforms to address a shrinking workforce because of the country's ageing population.
The trend threatens to spark a crisis in health and social services for an older population dependent on a shrinking workforce, with the number of people in employment projected to fall by 7.9 million, or 12.4%, to 55.61 million by 2030.
For some staffers, caseloads quadrupled because of ballooning rolls and a shrinking workforce, according to the state's Department of Human Services.
