Channel NewsAsia - Thursday, April 15
SINGAPORE: Good news for graduates entering the workforce this year.
Industry players say their chances of landing a job have improved tremendously as companies ramp up hiring.
Last February, the economic downturn prompted Singapore Airlines to freeze cabin crew recruitment and introduce broad measures that included cutting capacity and grounding planes.
But now, the airline is hiring again, albeit in a limited manner.
According to recruitment agencies, this reflects the broader reality that things are looking up for fresh graduates.
"They are graduating at the right time as compared to last year, because last year was really very bad," said Joshua Yim, chief executive officer of Achieve Group.
"However, this year, we already got signs that things are very well, so I do forecast that there’ll be a lot of need for these fresh graduates, particularly in industries like banking, the lifestyle industry, hospitality because of the IR, and manufacturing as well."
Yim said that many companies are ramping up hiring by up to 50 per cent.
Salaries of fresh graduates are also starting to inch closer to the highs seen in 2007 and 2008.
There are further signs the job market is recovering in tandem with the economy.
The NUS Career Centre said there has been a 20— to 30—per—cent increase in the number of employers who signed up with it.
"We’re seeing an increasing trend of employers also sourcing directly from local talents here to run operations in Asia Pacific," said Corrine Ong, director of the National Universitys (NUS) Career Centre.
"Because our Singapore talents are also Asia—savvy, so they’ll be able to understand the local culture better and henceforth better able to serve the market."
Already, some final year students have benefited from the improved economy.
"I sent in about five to six resumes, (and) I actually had an internship," said Ian Choo, a final year student at NUS Science Faculty. "And through the internship, which I found from NUS Career Centre, I managed to secure a job."
Said Nikki Yeo, a final year Arts & Social Sciences student from NUS: "I’ve sent four resumes so far and all of them have gotten back to me and I’ve gotten interviews from three of them so far, and there’s one more interview in May."
However, despite the rosy outlook, competition for jobs is likely to remain fierce, as more than 10,000 students from the three universities complete their final—year examinations in the next few weeks.
— CNA/yb
