20 August 2017
The weakening Singapore economy and softening job market has meant that fresh graduates are being forced to lower their career expectations.
Joint survey data released earlier this year by the National University of Singapore, Nanyang Technological University, and Singapore Management University showed a smaller proportion of last year’s graduates securing permanent full-time jobs within six months of graduation. The figure for 2016 was 80.2 per cent, compared to 83.1 per cent in 2015. The best cohort in recent years was the 2012 cohort, of which 85.6 per cent landed full-time jobs within six months of graduation.
In addition, advance labour market figures released by the Ministry of Manpower three weeks ago showed that while there are bright spots in some sectors, the overall economic outlook for Singapore remains uneven. In industries such as construction and marine, hiring remains cautious, though it has been noted that good opportunities for fresh graduates are still available in sectors like finance and insurance, infocommunications, media and healthcare.
Singapore universities have instituted a slew of measures to get students ready for the job market. SMU, for instance, assigns a career coach to each student to support them in their career planning throughout their degree programme. The university also offers compulsory career services workshops as part of its Finishing Touch programme.
NUS, on the other hand, has a Roots & Wings programme developed to help freshmen develop effective interpersonal skills, incorporating at the same time elements of career preparation. The NUS Centre for Future-ready Graduates also organises career fairs, workshops and recruitment talks.