Disclaimer: Until in any other case acknowledged, any opinions expressed beneath belong solely to the writer.
The youth employment scenario has been the discuss of the city in latest months. As the federal government launches traineeship programmes for younger graduates and complaints about low beginning pay develop louder, some may 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 newest report on the realities the youth—that’s individuals between 15 and 24 years of age—need to face in numerous labour markets amongst developed nations 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 nasty thought?
Is the grass greener on the opposite facet?
Whereas native unemployment charges for the younger might look elevated, they’re nothing compared to most OECD nations—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.
Nonetheless, maybe a extra worthwhile 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 nationwide common of simply 0.8%:
However the actual 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 giant unemployment subject among the many youth is definitely short-term, and most find yourself touchdown a job in below six months.
Conversely, whereas most get employed rapidly in Japan, comparatively extra are left behind for longer, which is the place Singapore and the Netherlands take the lead as probably the most youth-friendly labour markets.
Additionally price noting is the truth that these figures will not be 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
After all 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 normal circumstances your friends are going through of their respective nations.
Particular person experiences will range extensively, although.
Maybe in your dream career, the scenario is extra promising some other place with extra job alternatives and better pay. We all know that some graduates in Singapore are getting presents of S$7,000 or extra however there are additionally those that need to ask themselves whether or not to settle for the lowly S$2,600.
On a private degree, it all the time relies upon—on you, your training, your selections, and your potential to promote your self within the market.
However by statistical averages, Singapore continues to supply among the greatest beginning circumstances for younger entrants wherever on the planet proper now.
Featured picture: ronniechua/ depositphotos
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