Factors Affecting Human Capital in Singapore

The human capital index is a multivariate variable used to measure the assessment of human resource productivity in the future. Human capital has a connection with economic development. Moreover, the study looks to analyses the relationship between Human Capital and Economic Growth indicators such as HCI and GDP. Human Capital relates to the development of individual skills to make them function more profitable for the national economy. The study was aimed at investigating the effect of population, the number of people engaged and the average annual hours worked by engaged persons on the human capital index. The analysis was in SPSS for the findings. Correlation tests were used for analysis. The study revealed that population, the number of people engaged and the average annual hours worked by engaged persons had a significant positive effect on the human capital index.