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Written Answer by Mrs Josephine Teo Minister for Manpower to PQ on Impact of US-China Trade War on Job Prospects for recent Graduates

Employment practices

NOTICE PAPER NO. 1716 OF 2019 FOR THE SITTING ON  8 JULY 2019
QUESTION NO. 2890 FOR ORAL ANSWER

MP: Ms Tin Pei Ling

 

To ask the Minister for Manpower given the expected protracted US-China trade war, how will the job prospects for recent Singaporean graduates and youths be affected and what advice will the Government offer to Singaporean youths entering the workforce.

 

Answer

  1. In May 2019, MTI narrowed its GDP growth forecast downwards for 2019 to 1.5% to 2.5%, taking into account a global growth outlook that remained clouded by uncertainties and downside risks, including ongoing trade conflicts between the US and China. Although the economy slowed, most indicators showed that the labour market held up in the first quarter of 2019.
  2. Specifically, for youths aged 20-29, their employment rate remained high at about 70%. While unemployment inched upwards to 5.6%, this falls within the range seen in the last five years.
  3. Nonetheless, we take concerns about jobs and the economy seriously. MOM and Workforce Singapore (WSG) are monitoring the labour market closely, and stand ready to step up our employment facilitation services and programmes under the Adapt & Grow (A&G) initiative, should the need arise.
  4. Young Singaporeans may also make use of available education and career guidance resources, including the MySkillsFuture portal, which provides tools and information on industries and occupations to support their career development. They may also tap on the MyCareersFuture portal to find jobs best suited to their skills. The recently-launched Career Starter Programme builds on the education and career guidance support and work experience that students graduating from the ITE and Polytechnics have had, by providing further employment support through workshops and personalised career guidance and coaching.
  5. Young Singaporeans who require assistance finding jobs may approach WSG’s Careers Connect or NTUC’s Employment and Employability Institute (e2i)’s career centres, which offer career coaching, employability workshops, job fairs and job matching.
  6. As hiring may become more subdued, we encourage Singaporean youths entering the workforce to be open to opportunities in different sectors and occupations. They may also wish to consider work-study pathways such as the SkillsFuture Earn and Learn Programme to acquire industry-relevant skills and work experience related to their area of study. It is also useful to deepen existing skills or acquire new skills so as to be ready for opportunities when economic conditions improve.
  7. In short, be open, agile, relevant. There will be employers out there who will welcome you.