More job opportunities available for fresh graduates in Singapore
More fresh university graduates in Singapore are securing full-time jobs and earning more than peers who have joined the workforce earlier.
In 2022, 87.5% of fresh graduates in the workforce secured full-time permanent roles, compared to 84% in 2021. The median gross monthly salary for fresh graduates in full-time permanent jobs also increased from S$3,800 (US$2,844) in 2021 to S$4,200 (US$3,143) in 2022.
Overall, 93.8% of graduates found permanent, freelance, or part-time jobs within six months of graduation in 2022, a slight dip from 94.4% in 2021, results of the Joint Autonomous Universities Graduate Employment Survey 2022 showed.
However, the unemployment rate for fresh graduates increased slightly from 5.6% in 2021 to 6.2% in 2022. Graduates from sectors such as information and digital technologies, health sciences and engineering secured the highest proportions of full-time permanent jobs.
READ: Singapore’s total employment grows for fifth consecutive quarter
Song Seng Wun, Economist from CIMB Private Banking, said that the increase in unemployment for fresh graduates was not a concern. He explained that they might be more selective in their job search, and not in a rush to find work.
“The bottom line for graduates looking to join the labour force is that there are bright prospects, with the opening of Singapore’s economy creating more opportunities and the country continuing to attract more business to expand here,” he added, reported The Straits Times.