Submitting your resume, then getting a response, and start work. It seems like the most natural thing in the world. But not so for this 24-year-old Malaysian, Jocelyn. She has submitted over 100 resumes, and is still hoping for a job that fully matches what she has studied at university. The job market in Singapore seems to be saturated, and she’s been waiting for an opportunity for over a year.
She’s now working part-time for an insurance company. Before that, she worked as an intern for two small-sized companies.
“I don’t know why, but I feel that the economy is not doing so well,” she explained.
New workers entering the workforce has been on a downtrend. It’s proving to be more difficult and Singapore is hardly one of the top choices now for employment.
According to a MOM statistic report last year, the unemployment rate for workers aged 30 & below is up to 4.3%, a slight increase as compared to September, 2013. In that same timeframe, the overall unemployment rate also saw an increase, albeit a mini one from 2.2% to 2.3%. The outlook for this year is gloomy as well.
Those affected by this current crisis, most of them are young ones, just like Jocelyn. As the economy slows down, bosses are reluctant to groom newbies. On the contrary, they are willing to employ more experienced workers, or outsource jobs.
In an employment survey by Manpower Group, only 16% of 665 Singapore employers are looking to hire late last year. That is a dip from the 19% in 2014.
Looks like these migrant workers have to find another way out!
This worrying outlook has caused grief to this group of fresh workers.
24-year-old Tseng Shih Ying, a graduate with honours in economy studies, has started a CFA (Chartered Financial Analyst) course. He did this because of the need to equip himself with another certificate, and give himself more hope.
CFA head Madam Jan Richards revealed that more people are taking up this course, with a 6.5% increase from last year’s intake.
Some fresh graduates, in a bid to counter this problem, have lowered their expectations, or are willing to try something different that doesn’t relate to their field of study.
Some are so kiasu that they have already asked for help even before they come to Singapore in search of jobs!
Ps: actually jobs are still aplenty in this city state. The earlier you search for jobs before you graduate, the higher the chances are. It is all about the start really. It’s pretty much a case of ‘fail to prepare, prepare to fail’.