Government says, ‘Job market is ok’ but graduates say, ‘Job market is not ok’ — SG finance guru says, ‘I’m confused,’ so ‘who’s right and who’s wrong?’

SINGAPORE: When it comes to Singapore’s graduate job market, 2025 has become the year of mixed signals — like trying to read a map while blindfolded during a thunderstorm.

On one side of the battlefield: Manpower Minister Dr Tan See Leng, confidently waving the banner of “statistical improvement.” Employment rates are up, he says, with more graduates landing jobs by mid-2025 than at the same time last year. Permanent jobs are also up. Nothing to see here — just steady progress.

However, zoom into the trenches, and you’ll hear an entirely different tune from the young jobseekers on the ground, saying that it’s “draining,” “depressing,” and “like swiping left on Tinder a hundred times but never getting a match.”

So, who’s right? As usual in Singapore, both are, but just incomplete. Finance guru Loo Cheng Chuan, founder of the 1M65 movement, has just dropped a timely explainer on his YouTube channel that slices through the confusion like a hot knife through kaya toast.

Official stats: “It’s better now!” But…

Let’s start with the good news — straight from Dr Tan’s recent parliamentary update.

By June 2025, 52% of graduates were employed. That’s up from 48% in June 2024. Permanent employment rose from 37% to 44%. In short, the macro numbers show improvement.

“From that perspective, things are getting better,” Mr Loo notes. In fact, 700 more graduates managed to secure jobs right after graduation this year. But hold that confetti. Because here comes the twist.

The ‘job rush’ paradox: More grads means more chaos!

While more graduates are getting hired, even more graduates are rushing into the labour market this year — 2,400 more than last year, to be exact.

That means 1,700 of them are still searching for jobs — and many are being overwhelmed by the intense competition.

“Although there are more hiring, now there are even more job seekers. Why is it so?” Mr Loo asks to explain further.

In short: Rising inflation, cost-of-living pressures, and anxious parents.

Today’s graduates can’t afford to chill, explore postgrad options, or backpack across Europe. Instead, they’re diving headfirst into the job pool — because tuition, rent, and oat milk latte from Starbucks prices have gone up.

Many are skipping their honours year, shelving that dream MBA, or saying “no thanks” to PhDs. As Mr Loo notes, “Post-graduate studies cannot be afforded. Income stability is now a priority over academic advancement.”

Graduate life on the ground: 50 to 100 jobs applied, but still no reply!

The Ministry may see stable employment rates, but young people feel like they’re stuck in an endless episode of “Singapore Got No Jobs!”

“The job hunting experience is very draining and depressing,” says Mr Loo. “Many graduates have told the press and social media that they have to apply to 50 to 100 jobs with very few responses.”

CVs are flying everywhere like confetti at a wedding — but instead of jobs, many grads get… ghosted.

And those who do get something? Often land in contract gigs, traineeships, or roles they’re not thrilled about.

“They’re forced into jobs that are short-term… not what they previously liked,” Loo says.

External headwinds: Trade wars, AI, and hiring freezes!

If that wasn’t enough, Singapore’s job market is also being battered by global forces.

Trade tensions: Check
Geopolitical instability: Still looming
AI disruption: That’s the big one

“A lot of companies have frozen hiring or use AI to disrupt employment,” Mr Loo says. “I don’t need as much staff as I used to… productivity has gone up with AI.”

Translation: Even the jobs that do exist might be done better, faster, and cheaper — by bots.

NTU Youth Taskforce: The vibes are bad!

It’s not just anecdotal.

According to the NTU Youth Taskforce, two in three young people see the job market as “volatile and tedious.”

Employers are spooked by economic uncertainty and are playing it safe — offering short-term contracts instead of permanent roles.

“Employers say: I’ll give you short-term contracts… we are very cautious about hiring,” Mr Loo observes.

Perspective check: It’s not hopeless — it’s just painful!

Here’s where Mr Loo delivers his signature brand of no-nonsense realism.

“It is very likely that you will find a job,” he assures. “But the process of getting there is a lot more painful.”

There are still 80,000 jobs available in Singapore, he says — just maybe not in “exciting areas” or glamorous roles.

So you may need to go through three to five months of searching, rejection, and self-reflection. “You might have to take up jobs in unattractive areas, but that’s just life.”

Timing, luck, and reality bites!

In one poignant moment, Mr Loo shares his own story.

He graduated in 1997 during the Asian Financial Crisis — a bleak time, yet he was lucky to have a Singtel scholarship with a guaranteed job. His friends, however, were not so lucky.

“There’s such a thing called timing. There’s such a thing called luck,” he says. “This is life.”

He doesn’t sugarcoat it. This is not the best job market for grads, but sitting around blaming the government, the system, or fate won’t help.

So how now?

Mr Loo’s advice is:

Bite the bullet
Take what’s available
Use this “winter season” to grow

Maybe even consider entrepreneurship if doors don’t open. “Use this time to do something productive. Feed the family, pay the bills, and live through this period,” he added.

“These are just seasons in life. If you come out in the wrong season… that’s something you’ve got to bear with,” he advised further.

He ends with a call for resilience — not resignation.

But who is right? What is true?

The government sees (from the numbers) macro stability. Graduates feel (from lived experience) micro-struggle. Both are true — but just incomplete.

“They’re looking at different parts of the same elephant,” says Mr Loo. “One touches the tail, one touches the nose.”

Stats show more grads getting jobs, but stats don’t capture the emotional toll of searching — the rejection, the doubt, the unpaid internships, the late-night “still no reply” texts.