There may be more competition in the job market nowadays for new entrants, but there are also other factors at play.
Fresh graduates are pickier than before, and are willing to accept only jobs which pay more. Many do not take into account the quality of their resumes or their exam results. They do not think about working their way up.
The question is: Why would employers pay more for Singaporeans who are less willing to work hard, as compared to foreigners who can be more capable and are willing to learn?
Rather than question why there are no jobs available, fresh graduates should instead ask themselves why they should be hired. The mindset of Singaporeans must change in order for them to be more competitive in the job market.
Having more skills will help get employers to choose them over others.