Riding Out the Pandemic and Recession

The global coronavirus outbreak, followed by an economic recession Singapore is just coming out of, has all but flipped the world upside down. Do not panic though! There are still job opportunities out there as you buckle down and ride the storm out.

The global Covid-19 pandemic has disrupted the world in ways never seen before in recent history. From entre industries grinding to a halt, countries keeping their borders shut to remote work models becoming the new norm. As a graduate jobseeker, this may all seem incredibly overwhelming – especially when the prospect of finding your first job is already pretty nervewracking!

Here are a few tips to help you get through what might be coming ahead.

It may take longer than usual to find a steady-paying graduate job, so you will want to watch your personal finances! Begin by cutting of whatever expenses you do not need. Look through your expenses to find hidden ones you can do away with, or start finding creative ways to encourage yourself to save.

As a rule, try to plan for blocks of three months – a quarter of a year – at any one point in time. Forecast your essential expenses for the next quarter to the best of your abilities, and do your best to ensure you have enough savings on hand to cover those few months.

Keep holding on to your long-term plans to find a job, but remain flexible at the same time. Although the local economy is recovering, the global pandemic and situation remains uncertain, so be prepared to make short-term adjustments if necessary.

For example, even as you keep an eye peeled for a company and job that appeals to you, you can still look out for graduate internships, short-term contracts, or even consider going freelance. These may not seem like stable employment prospects, but think of them as short-term stopgaps until a longer-term opportunity avails itself. Plus, they are a great way to ensure you continue building and exercising employable skills!

And remember, even in the midst of recovery, there will always be organisations hiring. Every recession and recovery cycle brings with it winners and losers. Tech and logistics companies, for instance, are still doing well. You just have to keep your ear to the ground and learn how to find who is still hiring.

Our bodies may be stuck at home most of the time, but our minds do not have to be too! Make use of webinars and virtual events, or take online classes and certifications to upskill yourself.

Employers are still holding webinars and attending both physical and virtual events to engage with students and graduates. These are fantastic ways to grow your professional network and stay in touch with what is going in the industries of your choice – all from the comfort of school, or even your own couch.

Subscribe to your dream employers’ graduate mailing lists or social media feeds so that you will be alerted of any online events they will be having, or check in with your university careers services centre to see if they know of any upcoming ones.

Likewise, online classes are a great opportunity to build new employable skills in preparation for your future job prospects. The more skills you pick up to round out your skill set, the betterequipped you will be to land that dream job and succeed at it once the opportunities come your way.

Take care of yourself

Last but not least, remember to take care of yourself. With jobhunting, a recession and everything else in between clogging up our to-do lists and newsfeeds, it can be a lot to handle all at once.

Look out for signs that you are developing anxiety. These include:

• Fatigue

• Difficulty sleeping

• Feeling helpless

• Having trouble just managing what is presently on your plate because worries about your future keep distracting you

Remember that anxiety is a normal response to uncertainties. The key is not to let it overwhelm you by overthinking what may lie ahead, but instead focus on what you can do each day – one step at a time. Focus your energy on what you can accomplish today and now, and let tomorrow’s worries be for tomorrow. Rinse and repeat from there.

Still, if the anxiety feels too much for you to handle alone, there is nothing wrong with seeking external advice. Talk to your university counsellor, your career services coach, or any therapist or help hotline of your choice. A fresh perspective may be just what you need to keep yourself on track mentally and emotionally.

At the same time, try taking up new hobbies or make time each day to do the things you enjoy, like playing online games with friends. You are more than just your job search, after all. When all is said and done, you will be stronger, more resilient and better-equipped than ever for your dream career!

Industries most likely to boom post-pandemic

• Online shopping and delivery

The pandemic has changed consumer behaviour, and it is likely that, although in-person shopping with resume, it will not reach pre-pandemic levels for a long time.

• Healthcare and pharmaceuticals

The creation of Covid-19 vaccines has boosted the drug discovery market, and it is continuing to climb in value. Moreover, there is now higher demand for remote medical services and virtual treatment.

• Cybersecurity

Widespread adoption of digitalisation has resulted in a paradigm shift in data storage and accessibility, as well as hacking. Now, necessary security steps must be taken in order to ensure data protection.

• Hospitality

As borders reopen and travel resumes, global tourism is expected to recover. In fact, tourism in Singapore is expected to reach pre-pandemic levels by 2024!

• Banking and financial services

Banking and financial services had already been transitioning to digital platforms, but the global pandemic accelerated their adoption. At present, new regulations are beginning to play a significant role.