More Singapore Millennials pessimistic over job prospects in 2016

About 13% think they might lose their jobs.

Young Singapore workers have grown pessimistic about their job prospects in the first quarter of 2016, according to a report by Randstad Singapore.

Last year, over 7 in 10 (76%) Millennials aged 18 and 24 felt they could lock down a new job in six months. This has dropped to 6 in 10 (66%) in 1Q16. In contrast, the confidence levels of respondents in other age groups remained fairly stable QoQ, with no marked differences in terms of job sentiment.

Workers in the 18 to 24 year age group were also more worried about job security. The number of respondents who felt they had a robust chance of losing their job almost doubled, from 7% in 2015 to 13% in 1Q16.

Alongside this, focus on career advancement through promotions inched up to 57% in 1Q16 from 54% in 2015.

Overall, employees last year had a relatively high confidence level in the job market as over 6 in 10 (67%) respondents felt they could bag a new job in six months. This too has dipped, inching back to 62% since the start of 2016—while not a dramatic drop, it reflects a more wary mindset in general.

Moreover, general satisfaction saw a marginal increase as over 6 in 10 (63%) employees say they are happy with their current roles, compared to 60% in 2015. The report asserts this is likely due to the growing cautious sentiment amongst local workers.

The report also revealed that 7 in 10 workers were willing to move overseas for the right job. This was higher than the global average of 55%, and could possibly be driven by the growing uncertainty in the local job market.

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia