Local degree holders have problems getting jobs

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Fri, Jun 18, 2010
The New Paper

Degree holders have problems getting jobs

SINGAPORE’S strong economic recovery has led to more people securing jobs. But degree holders seem to be having a hard time getting work.The most sought after were diploma holders, whose unemployment rate shrank the most – from 4.1 per cent during the recession in March last year to 2.1 per cent a year later.In contrast, graduates were less sought after.Their jobless rate had barely improved.

It dipped slightly, from 3 per cent to 2.8 per cent during the same period, according to the Ministry of Manpower’s (MOM) first quarter labour market report released yesterday.

What makes diploma holders more attractive to employers is that they tend to command lower salaries, said analysts.

Degree holders may also be a little more picky with jobs, reported The Straits Times.

Professor Chew Soon Beng from the Nanyang Technological University said: “The degree holders want a better job so they are not in a hurry to find jobs. If you are not as educated, you know this is the best you can do, so better grab it.”

He was commenting on the labour report which showed that total employment rose by 36,500 in the first quarter of this year.

In contrast, employment fell by 6,200 in the first quarter last year due to the global economic downturn.

The bulk, or 33,400, of the employment gains came from services, higher than 31,500 in the fourth quarter and 7,500 in the first quarter of last year.

Manufacturing added 3,100 workers, the second consecutive quarter of increase.

Construction registered a small decline of 400 workers in the first quarter this year, after 20 successive quarters of employment gains.

Among the resident labour force, the unemployment rate dipped to 3.2 per cent in March from 3.3 per cent in December.

How different groups fare