FRESH university graduates will face a tougher search for jobs and lower starting pay this year due to a hiring freeze and retrenchments brought about by the economic downturn.
Although some students have been getting job offers as early as seven months before graduation, the overall mood is downbeat.
While all three local universities - the National University of Singapore (NUS), Nanyang Technological University (NTU) and Singapore Management University (SMU) - have yet to compile official employment statistics for the class of 2009, they are already preparing their students for the grim prospects.
'These are indeed challenging times, with fewer job opportunities for fresh graduates than in previous years,' said Mrs Ruth Chiang, director of career services at SMU. 'We have advised our graduates to be more realistic in their expectations and cast their nets wider.'
Competition for jobs has also stiffened in line with the contraction in positions available. Fewer employees are participating in career fairs while an increasing number of graduates are taking part, according to Mr Lim Der Shing, chief executive of JobsCentral.com.sg.
The job portal's annual online career fair for graduates saw 50 participating employers compared with 78 last year while student job seekers numbered a record 19,000, up from last year's 16,000.
A recent Ministry of Manpower report suggested that pessimism in the job market appears to have subsided, with a greater number of firms expecting hiring to go up, although the majority still expect employment numbers to fall.
Graduating students are adjusting their expectations accordingly.
'There is some pessimism... some friends are feeling hopeless after going for interview after interview with no results. But generally people have accepted the situation,' said Ms Shahirah Mohd Ansari, a graduating student from NUS.
Fresh graduates have also taken up non-permanent positions while waiting for the economy to pick up.
- The Straits Times
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