NETIZEN ASKS WHY MANY CAN’T FIND JOBS, EVEN DATA-ENTRY CLERK NEED MASTER’S DEGREE

What exactly is causing the bad job market now?

As above. Recently so many ppl saying the job market is bad and it’s reallyyy hard to land a job. But we are not in any recession nor is there any big global event like the Asian financial crisis or 2008 recession.

I thought that only tech is affected due to the layoffs but looks like almost every industry is affected.

Can’t believe that just in 2022, there was shortage of labour and companies were fighting left and right to hire and it was so easy to land multiple offers. What caused such a big change in a short time?

Netizens’ comments

1. I saw a job listing looking for data entry clerk for $1.5k per month, but requires master’s degree. You say leh?
2. It’s getting expensive for large companies to take on debt to expand operations, and simultaneously fresh investor capital is being diverted away to fixed deposits or other securities with higher ROIs.
   The impact on the global economy is decreased demand for goods and services, transmitting down the supply chains to virtually all businesses whether they want to borrow money or not.
   This is across the entire global economy, almost everywhere is facing the same issue with decreased economic activity.
3. Not too relevant but whats with all the associate roles requiring 5-8yrs experience? I still try to go ahead and apply but they said lack experience. Isn’t associate lvl around 2/3yrs exp?
4. I feel like it is really sector-specific. Some industry sectors are still very aggressively hiring, especially for those in construction industry, or roles like electricians, technicians, F&B, retail and certain service industries, especially those closely tied to tourism industries.
   But one thing is industry-specific knowledge. I often hear that your first job often defines the rest of your career and that is true in Singapore. When certain industries like tech or finance are going through a bad time, it can be difficult to switch to other industries.
   Another reason is salary expectations. Most positions in service-related sectors, who is still hiring, don’t pay well, at best around $2K to $3K.