19 June 2016
As Singapore’s economy slows down, local graduates are finding it more difficult to secure interviews, much less a job offer.
This year, Singapore’s gross domestic product (GDP) is projected to grow only between one and three percent.
Human resources experts say that they have seen a drop in job vacancies open to fresh graduates by at least 10 percent compared to last year, and that graduates are finding it increasingly difficult to secure jobs that they want.
Graduates have compensated by expanding the scope of their job search, taking advantage of sectors like computer engineering, software development, accountancy, media, advertising, and public relations, which are still going strong despite the downturn.
Whilst the job market is expected to remain stable, employers are getting more cautious about hiring, and less are participating in varsity recruitment drives.
Ms Lynne Roeder, managing director of recruitment firm Hays in Singapore, said job candidates with relevant internship or work experience are at a greater advantage.
Also, graduate trainee programmes continue to be an important hiring strategy especially in the banking, finance and logistics industries, she added.