Law403G3

Problem and Motivation

On 2nd March 2016, Today reported that the job market was "generally rosy last year for fresh graduates", with higher employment rates and better starting salaries, compared to the graduation batch of 2014.

On the other hand in more recent news, it has been widely reported that the job outlook in Singapore is rather gloomy, with several industries hard-hit by the slower economy. In certain industries such as legal, this has been exacerbated by the influx of law graduates who pursued their degrees overseas, resulting in excess supply over demand. The banking and financial industry too, has seen a few retrenchments throughout this year.

For example, Goldman Sachs is planning to cut investment banking jobs in Singapore as part of its policy to reduce 30% of its operations in Asia. Amidst all these lows, there have been some bright spots, such as in the IT industry where there were about 15,000 vacancies unfilled, and growth expected over the next few years.

It is with these in mind that the team wants to explore and study the employment data in Singapore and to gain a better understanding of the job industry and its outlook. The team seeks to find and seek co-relations of factors such as education level, specialization as well as market demands to see if there are any inherent patterns within a particular industry or sector.