Slower economic growth impacts full-time, part-time, and freelance employment rates
A recent graduate employment survey revealed that Singapore’s fresh university graduates enjoyed a modest increase in median gross salaries in 2023, rising to S$4,313 from S$4,200 in 2022. However, fewer graduates were able to secure full-time, part-time, or freelance employment due to slower economic growth.
Only 84.1% of graduates in the labor force secured full-time permanent positions, a decrease from 87.5% in 2022. Additionally, fewer graduates took part-time or temporary roles (down to 4% from 4.5%), and freelancing also saw a decline. Overall, 89.6% of graduates found employment within six months, down from 93.8% in 2022. These figures were similar to pre-pandemic levels.
Graduates in health sciences, information and digital technologies, and business sectors had the highest full-time permanent employment rates. Graduates from information and digital technologies earned the highest median salaries, at S$5,500, although this was a slight decrease from the previous year.
The survey, conducted by four major universities, included 12,300 fresh graduates from institutions like NUS, NTU, SMU, and SUSS.
