Dull job market will keep fresh grads on their toes

 

With economic recovery slowing down, fresh graduates might need to be creative about getting a job.

PETALING JAYA: With economic recovery slowing down, experts believe that employment prospects will be tough for fresh graduates.

However, should fresh graduates adapt to current trends in market demand, experts believe it may pave the way to more unconventional work opportunities.

Calling the transition ‘challenging’, Zulaikha Azmi, a research executive at the Institute for Democracy and Economic Affairs, told FMT that employers are tending towards contract-based remote work with more flexible hours.

Although some traditionally stable career paths will likely remain, Zulaikha said that fresh graduates should get comfortable with picking up skills outside of their curriculum regardless.

Zulaikha Azmi.

“Such a trend will demand that fresh graduates continuously update their own skill sets,” she said. “Fresh graduates will have to think out of the box to catch up.”

She added that fresh graduates may not walk the same career paths as their seniors. “There may not be such a thing as having just ‘one job’ any more,” she said. “Working outside your preferred field may be more common than ever before.”

She also said that job entry may prove to be difficult for fresh graduates, and urged the government to consider more long-term solutions in helping them break into the market.

“For instance, collaborating with the private sector to incentivize the employment of fresh graduates may be quite fruitful.”

She also said that higher education may also have to adapt accordingly and look to equip its graduates with the right skill sets for this new job market as well.

Lee Hwok-Aun.

On the other hand, Lee Hwok-Aun, a senior fellow at the ISEAS-Yusof Ishak Institute, told FMT that fresh graduates with skills suited to e-commerce modes may be more likely to get employed.

However, he noted that Malaysia’s tendency to generate low-skill, routine, and low-paying jobs may persist. “Judging from the vacancies posted on MyFutureJobs, “ he said. “Out of 267,000 openings, factory workers comprise the largest category at 13% of the total.

“The next three largest occupations – sales assistant, factory hand, and security guard – make another up 12% of all vacancies.”

When asked for how the situation would compare to the great recession of 2008, he explained that the trigger is entirely different.

“The timing of economic recovery this time depends on the pandemic containment, vaccine rollout and economic recovery,” he said. “But the rebound could be quite robust because there hasn’t been a financial crisis or major supply shock.”

He also said that the main challenge gripping the market may take the form of rapidly changing employment security, new work arrangements, and the need for re-skilling.

Lee also said that higher education is relevant in more ways than simply as a means of priming Malaysian youths to join the workforce.

Noting that the working age may extend well into 60 and beyond, he says there is still value in pursuing full-time study for youths. “Adolescents and young adults, for the most part, are still discovering who they are,” he said. “ Do we expect to thrust 18-21-year-olds into full-time work?” - FMT