DPM Gan encourages fresh graduates to keep options open amid economic uncertainties, govt working to increase opportunities

As uncertainties revolving around tariffs continued to loom over the global economy, Deputy Prime Minister Gan Kim Yong encouraged young Singaporeans, especially fresh graduates entering the workforce, to keep their options open.

They can consider trying out jobs that are meaningful to them or that they think they can do well, and be more flexible in the types of jobs they are looking for and their salary expectations, he added.

DPM Gan contended that by doing so, young Singaporeans can acquire relevant skillsets and gain a firmer footing when the job market improves:

"I think when the situation improves and job market strengthens, there will always be opportunities to look for better jobs and better-paying jobs. So, I think what is very important for these young graduates, whether polytechnic or university, is to be able to be employed as soon as possible".

DPM Gan was responding to a question from Mothership in his capacity as the chairman of the Singapore Economic Resilience Taskforce at a media doorstop interview on May 16.

The question was whether DPM Gan, who is also the Minister for Trade and Industry, could share some advice for young Singaporeans, who may face the challenge of companies favouring experienced hires in view of a possible economic slowdown.

Uncertain economic outlook

At the doorstop, DPM Gan said that although the United States government has paused its "reciprocal tariffs" for 90 days and struck deals with countries like China, the global economic outlook remains "very uncertain" as what will happen at the end of 90 days remains unknown.

Against this backdrop, Singapore's economy is beginning to slow down, with some local businesses sharing that some of their export orders had been delayed, deferred, or cancelled, added DPM Gan.

This makes business planning difficult and many companies find this uncertainty worrying and unsettling, DPM Gan explained.

Earlier on Apr. 14, the Ministry of Trade and Industry had also downgraded Singapore's Gross Domestic Product (GDP) growth forecast from 1.0 to 3.0 per cent to 0.0 to 2.0 per cent.

Supporting young job seekers

Amidst the uncertain economic outlook, DPM Gan said the taskforce is "very concerned" about younger Singaporeans who are entering the job market, especially for the first time.

At the doorstop interview, DPM Gan revealed that the taskforce has been working on increasing training and upskilling opportunities for in-service workers and fresh graduates, such as through the SkillsFuture Level-Up Programme.

Concurrently, the taskforce has also been working with some of the major employers and companies to explore the possibility of creating more new jobs and internship opportunities.

For companies that prefer experienced hires, DPM Gan said the taskforce will discuss with them whether they can focus on and allow fresh graduates to take on their internship programmes:

"We will encourage them to, say, why not you take them on as a trainee, as an intern, so that they will acquire the necessary experience, because everybody has to start somewhere."

DPM Gan also assured fresh graduates that the taskforce will be supporting them as they prepare to join the workforce:

"We are watching this space, and we just want to tell this: fresh graduates, don't worry. We are behind you, and we'll always be there to support you.

And the first thing that we want to do is to work with the Institutes of Higher Learning (IHLs) to see how we can strengthen our career advice, career guidance, and job fairs, and placement support for them."

The taskforce "will roll out additional programmes to ensure our workers will be able to find jobs" if the employment market remains soft, DPM Gan said.

Top images via Mothership & National University of Singapore/Website