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Coffeeshop Chit Chat - Fresh grad wages decline as FTs flood in</TD><TD id=msgunetc noWrap align=right></TD></TR></TBODY></TABLE><TABLE class=msgtable cellSpacing=0 cellPadding=0 width="96%"><TBODY><TR><TD class=msg vAlign=top><TABLE border=0 cellSpacing=0 cellPadding=0 width="100%"><TBODY><TR class=msghead><TD class=msgbfr1 width="1%"></TD><TD><TABLE border=0 cellSpacing=0 cellPadding=0><TBODY><TR class=msghead vAlign=top><TD class=msgF width="1%" noWrap align=right>From: </TD><TD class=msgFname width="68%" noWrap>kojakbt_89 <NOBR></NOBR></TD><TD class=msgDate width="30%" noWrap align=right>4:35 am </TD></TR><TR class=msghead><TD class=msgT height=20 width="1%" noWrap align=right>To: </TD><TD class=msgTname width="68%" noWrap>ALL <NOBR></NOBR></TD><TD class=msgNum noWrap align=right>(1 of 2) </TD></TR></TBODY></TABLE></TD></TR><TR><TD class=msgleft rowSpan=4 width="1%"></TD><TD class=wintiny noWrap align=right>31194.1 </TD></TR><TR><TD height=8></TD></TR><TR><TD class=msgtxt>Average wages of fresh graduates continue to decline as number of foreigners increase
April 6, 2010 by admin
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http://www.temasekreview.com/2010/04/06/average-wages-of-fresh-graduates-continue-to-decline-as-number-of-foreigners-increase/
Written by Our Correspondent
The Straits Times put up an article with the most misleading title that “90% of grads found jobs within 6 months”, but conveniently left the fact the average wages of fresh graduates are lower than in 2008 at the bottom of the article.
According to the MOE’s Graduate Employment Survey, nine out of ten graduates from the three local varsities found a job within six months of graduation.
What was not mentioned is the number of graduates who are on contract jobs. According to a Straits Times article a few weeks ago, one in three polytechnic and university graduate are on contract jobs.
The average wages last year were also lower than that in 2008.
For example, in 2008, SMU economics graduates with cum laude and higher qualifications landed average monthly salaries of $4,164. The same group last year started at an average of just $3,606.
With the increase in cost of living, especially that of public housing within the same period of time, it is pretty obvious that fresh graduates are not having an easy time contrary to the rosy picture painted by the article.
The result corroborates an earlier release by the Manpower Ministry which revealed that the real earnings of Singaporeans have declined by 3.2 percent in 2009.
Again, the figures are misleading because it is skewed by extreme values towards the upper end.
A more accurate figure to use should be median salaries which the Straits Times did not report.
The Straits Times attributed the lower wages to the economic gloom last year, but the economy was already improving by the second quarter with companies hiring again.
A likely cause is the uncontrolled influx of foreign workers who are allowed to compete directly with Singapore graduates for limited jobs which can otherwise be taken up by them.
Some companies like Keppel Corp and Courts even put up job advertisements in Malaysian papers to recruit Malaysians specifically.
Due to the PAP’s liberal immigration and pro-foreigner policies, foreigners now make up more than a third of Singapore’s workforce. The figure will go up to 44% if PRs are included.
The easy availability of cheap foreign labor is a key reason behind the falling wages of Singaporeans, according to a recent Wall Street Journal editorial.
Unfortunately with the mainstream media firmly controlled by the PAP, such negative news are censored and Singaporeans remain ignorant of the reality on the ground.
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April 6, 2010 by admin
Filed under Headlines
Leave a comment
http://www.temasekreview.com/2010/04/06/average-wages-of-fresh-graduates-continue-to-decline-as-number-of-foreigners-increase/
Written by Our Correspondent
The Straits Times put up an article with the most misleading title that “90% of grads found jobs within 6 months”, but conveniently left the fact the average wages of fresh graduates are lower than in 2008 at the bottom of the article.
According to the MOE’s Graduate Employment Survey, nine out of ten graduates from the three local varsities found a job within six months of graduation.
What was not mentioned is the number of graduates who are on contract jobs. According to a Straits Times article a few weeks ago, one in three polytechnic and university graduate are on contract jobs.
The average wages last year were also lower than that in 2008.
For example, in 2008, SMU economics graduates with cum laude and higher qualifications landed average monthly salaries of $4,164. The same group last year started at an average of just $3,606.
With the increase in cost of living, especially that of public housing within the same period of time, it is pretty obvious that fresh graduates are not having an easy time contrary to the rosy picture painted by the article.
The result corroborates an earlier release by the Manpower Ministry which revealed that the real earnings of Singaporeans have declined by 3.2 percent in 2009.
Again, the figures are misleading because it is skewed by extreme values towards the upper end.
A more accurate figure to use should be median salaries which the Straits Times did not report.
The Straits Times attributed the lower wages to the economic gloom last year, but the economy was already improving by the second quarter with companies hiring again.
A likely cause is the uncontrolled influx of foreign workers who are allowed to compete directly with Singapore graduates for limited jobs which can otherwise be taken up by them.
Some companies like Keppel Corp and Courts even put up job advertisements in Malaysian papers to recruit Malaysians specifically.
Due to the PAP’s liberal immigration and pro-foreigner policies, foreigners now make up more than a third of Singapore’s workforce. The figure will go up to 44% if PRs are included.
The easy availability of cheap foreign labor is a key reason behind the falling wages of Singaporeans, according to a recent Wall Street Journal editorial.
Unfortunately with the mainstream media firmly controlled by the PAP, such negative news are censored and Singaporeans remain ignorant of the reality on the ground.
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