This report says that some fresh graduates are sending 20 to 50 job applications, yet unable to get interviews, much less a job offer.
http://www.todayonline.com/singapore/fresh-graduates-face-challenging-job-search-ahead
This report shows rising unemployment in Singapore, more jobseekers than openings, and more workers laid off. There are more than 60,000 unemployed Singaporeans. Yet, we’re going to Taiwan to recruit Cisco officers.
http://www.channelnewsasia.com/news/singapore/unemployment-in-singapore-rises-more-workers-made-redundant-in/3128434.html