Latest S’pore Labour Market Report Shows Some Good & Bad News. Here’s What You Should Do

Welcome to this article, fellow responsible working adult (or soon-to-be). Well, I just kinda assumed that… since you actually bothered to click on this article about the Singapore Labour Market Report.

Go ahead, click on the URL to find out more or simply scroll on for the TL;DR version.

Nah, just kidding.

This is why this article exists. We’re here to deliver the TL;DR version, and also what you can do after knowing about this.

Basically, the economy of Singapore is still on the road to recovery. Retrenchments are lower now as compared to the previous quarter and the decline in total employment is continuing to ease.

However, long-term unemployment edged up slightly so you might be stuck in a rut if you’re a fresh grad looking for a job.

Hence, this guide is for those of you trying to look for a job in this economy.

1) SkillsFuture

While you’re looking for a job, why not take the chance to upgrade and upskill?

SkillsFuture is a national movement to provide Singaporeans with the opportunities to develop their fullest potential throughout life, regardless of their starting points.

If you’re aged 25 and above, you would have received your $500 credit courtesy of our Government. The credits will not expire and you will also receive periodic top-ups! Use them well.

Remember. Your skills. Your asset. Your future.

Why learn new skills when you’re the master of one skill? Well, because robots might be taking over your job. Here, read this and be enlightened.

2) Earning a side income

For those of you who need or want to make some money, you can also do some freelancing or part-time work while waiting for a full-time job.

With a side income, you will be able to keep yourself well-fed while searching for a full-time job. You might pick up new skills along the way that you can apply in your future jobs. Remember, a positive attitude counts and who knows, you might end up working full-time with the company you part-timed at in the end!

As a former freelancer, I understand how some of you feel about freelancing. However, it’s honestly not so bad nowadays. And if you’re a millennial looking to go into the media industry (as with 90% of the millennials I know), you’ll be happy to know that a lot more is being done to protect you.

Yeap. Times sure have changed, huh?

3) Savings

This is perhaps the most obvious point.

Don’t. Squander. All. Your. Money.

Although we can’t deny that the interest rates banks offer are pretty low, putting your money in a bank is still better than spending your monthly wage completely.

It sure sounds cliché but it’s important to save the money for rainy days… or a BTO in the near future when you finally meet that someone. 😉

Ultimately, you don’t want to be caught in a bind with empty pockets.

4) Exploring your options

Think you’re popular on social media? Now’s the time to be resourceful and explore opportunities that avail themselves to you.

Ask your friends or family if they know of job openings that might be suitable for you and the combination of Google x job portals are likely to be your best friend!

Keeping an eye out for various programmes to attend might be a good idea!

Take for example, Young NTUC’s Youth Career Network.

It’s a support network consisting of volunteer career coaches and career guides who with Young NTUC’s help, partner youths in their career journeys through coaching and mentoring sessions, workshops as well as career talks.

Their target audiences are graduating students and first-time job seekers, aiming to provide them with the support and guidance they need to better navigate and plan their career.

Oh and, there’s also Todo Todo – a joint initiative by NTUC and People’s Association.

Todo Todo is a network that youths can tap on to navigate the rapidly changing economy. Their events consist of masterclass talks, career mentorship sessions and Skills Marketplace job fairs etc.

5) Re-evaluate your career expectations

If you’re a fresh grad, please don’t tell me you’re looking forward to making $10,000 a month immediately.

(Wake up your idea lah!)

No, seriously. Please be reasonable. The jobs available to you at the moment might not be something you really want. If you’ve been unemployed for close to a year, perhaps it’s time to re-evaluate your expectations.

Are you asking for an unreasonable amount for your salary? Are you asking for too many days of leave? Must you have dental benefits?

Everyone has to start somewhere. Consider trying out for something you wouldn’t mind doing. A little experience can go a long way for your career.

After all, you can always look for another job once you feel that you’re ready! Challenge yourself and see how far you can go!

In conclusion

Man, it’s been awhile since I’ve written such a constructive article. Just like the process of job search, I don’t always get to write what I want. However, it’s always a valuable experience for me. (Hey, my portfolio would look nicer too)

Do consider the above options while you’re looking for a full-time job. At the end of the day, doing something is better than doing nothing, right?

This article was first published on goodyfeed.com in collaboration with the Labour Movement of Singapore.