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The Long-Term Impact on Wages of Entering The Labour Market in a Recession in Singapore

21 November 2011

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This study examines whether university graduates who entered Singapore’s labour market during recessions suffer from depressed wages over the long term compared to their peers who entered during better times.

Findings show that graduates who entered during recessions would receive lower wages on average. However, their wages would fully catch up with their ‘luckier’ peers after three years of job experience.

This suggests that Singapore’s labour market is sufficiently efficient, and that the overall social loss is small.

The views expressed in this paper are solely those of the authors and do not necessarily reflect those of the Ministry of Trade and Industry, the Singapore Department of Statistics or the Government of Singapore.

Download for the full article [PDF, 122 KB].

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