Disclaimer: Except in any other case said, any opinions expressed beneath belong solely to the writer.
The youth employment scenario has been the talk of the town in latest months. As the federal government launches traineeship programmes for younger graduates and complaints about low starting pay develop louder, some could be tempted to go away Singapore behind and discover greener pastures overseas.
Considerably surprisingly, Singapore’s Ministry of Manpower has determined to discover the subject in its latest report on the realities the youth—that’s individuals between 15 and 24 years of age—must face in numerous labour markets amongst developed international locations around the globe.
With youth unemployment nonetheless at 6.8%, in comparison with resident unemployment charges of simply 2.8%, possibly it’s not such a foul thought?
Is the grass greener on the opposite aspect?
Whereas native unemployment charges for the younger could look elevated, they’re nothing compared to most OECD international locations—together with seemingly caring, welfare states in Sweden, Finland or Denmark, with youth joblessness reaching between 15 and 25%.
On these figures, Singapore ranks on par with Germany and each are decisively beat by Japan, the place solely 3.9% of younger individuals had an issue discovering a job in 2024.
Nevertheless, maybe a extra beneficial measure is the long-term unemployment price—that’s the share of the given inhabitants staying out of a job for six months or extra. On this metric, Singapore youths are literally on par with the national average of just 0.8%:
However the true eye-opener is the worldwide comparability, the place Singapore surges to the highest:
It’s fascinating to see how a lot Sweden or Finland enhance on this rating, exhibiting that the seemingly very massive unemployment challenge among the many youth is definitely short-term, and most find yourself touchdown a job in underneath six months.
Conversely, whereas most get employed shortly in Japan, comparatively extra are left behind for longer, which is the place Singapore and the Netherlands take the lead as essentially the most youth-friendly labour markets.
Additionally price noting is the truth that these figures aren’t meaningfully skewed by short-term, part-time employment, as 80% of 15 to 24 year-olds in employment in Singapore are working full-time:
What works for you
In fact such artificial, statistical comparisons don’t essentially present the total image, or one that’s correct for you. However they do present a comparability of common circumstances your friends are going through of their respective international locations.
Particular person experiences will range extensively, although.
Maybe in your dream career, the scenario is extra promising some place else with extra job alternatives and better pay. We all know that some graduates in Singapore are getting offers of S$7,000 or more however there are additionally those that must ask themselves whether or not to accept the lowly S$2,600.
On a private stage, it at all times relies upon—on you, your training, your decisions, and your skill to promote your self within the market.
However by statistical averages, Singapore continues to supply a number of the greatest beginning situations for younger entrants wherever on the planet proper now.
Featured picture: ronniechua/ depositphotos
