Internship Overload: Graduates Face Job Market Crisis in Singapore!

Singapore, Singapore - In a recent video that stirred considerable discussion online, Workers’ Party MP Louis Chua expressed his concerns about the growing number of recent graduates struggling to find meaningful employment. Instead of sealing the deal with full-time positions, many are instead being offered internships, often at significantly lower pay—sometimes as little as S$1000 a month. This trend has left hopeful job seekers feeling disillusioned as they are faced with roles that should be filled by full-time employees, under the guise of internship opportunities. As Chua noted, this troubling shift is especially alarming given fears of an economic slowdown influencing hiring practices. According to The Independent, he highlighted the plight of graduates who have been job hunting for months, some even over a year, without finding success.

Chua’s video resonated with many viewers, who took to social media to share their experiences. Commenters voiced similar frustrations, revealing that recent graduates are often seen as too expensive compared to foreign talent, which complicates their job prospects further. Additionally, there was widespread agreement that many internships demand the same performance standards expected from full-time employees, yet lack adequate support and guidance for those just starting their careers.

Stability Amid Challenges

Despite the frustration echoed by Chua and many graduates, there are signs of resilient employment trends in other sectors. According to The Business Times, Minister of State for Education Gan Siow Huang shared insights on the employment landscape during a parliamentary session. While the 2024 Joint Autonomous Universities Graduate Employment Survey revealed fewer graduates securing jobs six months after graduation, the persistent stability among Singaporean university graduates aged 25 to 29 is noteworthy—about 95% of these employed are in full-time positions.

Over the past decade, employment rates for graduates in this age group have remained stable, with sectors such as health sciences and business continuing to demonstrate robust job outcomes. However, the recent survey indicated a decrease in hiring demand and job vacancies, which may explain why some graduates are taking longer to land full-time roles. Fluctuations in the job market remain cyclical, influenced by broader economic factors.

The Bigger Picture of Employment in Singapore

Diving deeper into the employment landscape, Statista provides a broader picture. Over the last decade, Singapore experienced consistent economic growth, nurturing a strong job market. However, the COVID-19 pandemic cast a long shadow, leading to the worst recession the country had ever experienced in 2020 and 2021. Fortunately, signs of recovery emerged in 2022, as the labor market began to bounce back amidst the transition to a post-COVID economy.

Singapore’s human capital stands out as its most valuable resource, particularly due to the relatively small resident population of just under six million. The country continuously works to build a highly skilled workforce while also attracting foreign workers, especially in sectors that demand both skill and manpower. While local resentment towards foreign labor exists, fueled by fears of job loss, the competitive employment market has kept the unemployment rate low overall.

As Singapore navigates the complexities of the job market amidst shifting economic conditions, recent graduates like those mentioned by Chua remain at the heart of this conversation. The combination of internship roles overshadowing full-time opportunities and the challenges posed by changing demand in various sectors create an environment ripe for discussion and reevaluation of employment policies. There’s much to consider regarding how to better support our new workforce, ensuring they can truly realize their potential in a landscape that offers them, rather than limits them.