It’s not easy finding a job if you are new to the job market. Data from the Ministry of Manpower (MOM) has revealed that the unemployment rate for those under-30 had risen to 4.3 per cent in September last year, up from 3.9 per cent in September 2013,
Part of the reason for the rise in unemployment for this group is due to the slowing economy, which has made bosses more hesitant about hiring. The Monetary Authority of Singapore said the economy is facing uncertainty in the short term as the outlook for Singapore's key trading partners remains gloomy.
However, the weaker employment outlook has prompted some young job seekers to pursue extra qualifications, such as chartered financial accounting. For instance, the Chartered Financial Analyst (CFA) Society Singapore, has noted a "marked increase" in student enrolments for the level one exam.
Nevertheless, the Education Ministry's survey showed that nine in 10 fresh graduates found jobs within six months of graduating last year. But some of that job-matching also comes from students lowering their expectations, settling for firms and job functions outside their first choice, students said.
Know of any young job seeker? What advice would you offer to help them?
Source: “Tougher job market for new entrants” (The Straits Times, 2 Nov 2015)