Fewer polytechnic graduates secure permanent jobs in 2024 despite higher salaries

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Fewer polytechnic graduates in Singapore secured full-time permanent employment in 2024, according to the latest Graduate Employment Survey (GES) released on 13 January.

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The results show 54.6 per cent of graduates achieved full-time permanent roles, down from 60 per cent in 2023 and 59 per cent in 2022.

Despite this, the median gross monthly salary of graduates in full-time permanent jobs rose by $100, reaching $2,900 in 2024.

Graduates from health sciences, humanities and social sciences, and information and digital technologies earned higher pay compared to peers in other fields.

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Declining job opportunities

The survey revealed that 87.5 per cent of polytechnic graduates in the workforce secured some form of employment—whether permanent, freelance, or part-time—within six months of graduation or completing national service.

This figure reflects a significant decline from 92.7 per cent in 2023 and 91.8 per cent in 2022.

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Worryingly, the unemployment rate for fresh graduates rose sharply to 12.5 per cent in 2024, a figure comparable to the 12.6 per cent recorded in 2020 during the height of the Covid-19 pandemic.

These findings underscore a challenging labour market for new graduates despite Singapore’s 4 per cent economic growth in 2024, a marked improvement from 1.2 per cent in 2023.

Broader participation but persistent gaps

Of the 7,614 fresh graduates who responded to the survey, just over half (50.4 per cent) were actively in the labour force. Meanwhile, 48.9 per cent were pursuing or preparing for further studies, reflecting a growing trend of opting out of the workforce to enhance qualifications.

Among graduates in the workforce, 27 per cent were engaged in temporary or part-time roles, and 5.9 per cent were freelancing. Many of those in non-permanent roles reported that they were also preparing for further education.

Official responses highlight adaptability efforts

Dr Maliki Osman, Second Minister for Education, responded to the survey results with optimism despite the declining employment rates. In a Facebook post, he emphasised that the findings “speak volumes” about the value of polytechnic education. “It’s encouraging to note that our graduates are commanding higher salaries across various sectors,” he said.

Singapore Polytechnic principal and chief executive, Mr Soh Wai Wah, acknowledged the evolving employment landscape, stressing the importance of preparing students with practical skills and adaptability. Measures such as integrating AI literacy into curricula and bolstering career guidance aim to address these challenges, he noted.

Structural challenges remain

While higher salaries may reflect the value of polytechnic graduates, the sharp drop in employment suggests deeper structural issues in the labour market.

Singapore’s economic recovery has not translated evenly across industries, leaving fresh graduates increasingly vulnerable. Rising unemployment rates also highlight the fragility of opportunities for those just entering the workforce.



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