Breaking into China's job market amid record-high youth unemployment

New inflation data from China shows prices dropping for the first time in two years, but the country is struggling with a lack of consumer demand, making it hard for new graduates to get jobs. Janis Mackey Frayer reports. 

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#China #JobMarket #Employment

[anonymoushuman]

Imagine wasting time and money studying in university just to work in a retail or hotel. I would just quit too.

[jlvx]

I've been in that situation before, went to a job fair at a community college. Every company hiring there told me I was overqualified for their positions.

[WELVAS.]

During a transition period is rough. It's an interesting problem to have so many highly educated and not enough jobs while many also choose not to work available factory jobs. I think there was an article saying China has surpassed US in the number of people with advanced degrees. But not having a job after spending the money on education is hard.

[yenpham-jbwo]

That’s the problem with overpopulation. The good is really good but the lows are really low

[RichardBrett]

If these Chinese youths who are so well educated, I can't imagine those American youths who are high school dropouts will ever have a chance in life but to work at the MacDonald's!

[jwhite]

Surplus jobs in manufacturing is a lie - ask anyone who tried to find such a job this year anywhere in mainland China - the picture is always the same - a lot of applicants and very few positions who are only interested in narrow age group, very little pay, and expectation of constant unpaid overtime.

The real unemployment rate for young people is about a half at least, and people who are employed are not that much better - almost everyone had several paycuts and layoffs just this year - and more may be coming.

In some places the choice is seemingly to die of exhaustion on the job, die on the streets due to lack of funds without one, or go to countryside villages and die of starvation in secrecy there. People are only surviving on amassing debt and/or personal and family savings but those are already running out due to 3 years of complete lockdowns.

Entire sections of some cities are seemingly abandoned because of sharply dropped number of orders from anywhere this year, factories are downsizing and closing en masse. Ports are stacked with empty containers and almost no ships. Literally everyone and everything it seems is in debt, have a lot of debts unpaid to them, an no one has any money.

Manufacturing is moving to India, Vietnam, Indonesia and other countries at surprisingly high speed among the fears of unpredictable regulations, rising costs, increasingly random fines and corruption, deflation, increasing hostility toward foreign countries, companies and individuals, looming war with Taiwan + associated sanctions, stunningly harsh but pointless measures such as zero-C0V1D, huge floods caused by sluice gates being wide opened abruptly in secrecy deep at night, unprecedented levels of censorship and fake data making any economic predictions impossible, etc.

[Bibigo]

Janice! What is going on in the world, Janice?!

[kenyup]

that's totally true about China, the working culture is totally toxic, you gotta overtime working for free, just like a infinity overtime working, the salary is really low, $30 equivalent is average ppl's salary, if you live in Beijing or Shanghai, salary might be higher, but the cost of living is higher too, a bunch of people just paid their bills

[RaviolistRavioli]

This is actually a surprising good economic piece.

[haphazardprism]

I dont know about china but where i live we have a manual labor shortage. People twice my age are the majority. I work labor because the opportunities are plentiful. But as i said i work with people literally twice my age.

[resa]

Why are they counting in people age 16-22

Most of these people are in college or still in high school

[zztissue]

Europe has a major shortage of educated grads… but those countries are too scared/under the US’s thumb to hire Chinese grads.

[ker]

It 'll get worse with AI & Quantum computing

[jamellee]

yea right its 21% for them, more like 60-70% unemployment rates. Most are doing Uber/Doordashing food or people. It is what it is because too many jobs lost and will never come back as it left China.

[busbusad]

so right now all these 'experts' simply lie?

in the US the unemployment rate is using the number of people who are actively seeking jobs instead of people who are available.

This is one of the most basic things you can learn from an economy 101 class.

[anypercentdeathless]

Is 46% effective unemployment scary to a brittle government?

[mangakey]

" just gradated from university" Or unemployed freeloading NEET.... His only options are sales, insurance salesman or mover... You don't need a degree from expensive university for

[WrongedSports]

Young people got mad about 35 years ago, they protested and it made the world notice. But China quickly struck it down but it made an impression, that event was called Tiananmen Square

[___beyondhorizon]

In China, resume required photo, age information, thats legal there. In addition, there's a section to fill out for ethnicity, the Han majority will be pay higher than the minority Chinese, those are from province further away. I noticed this when i was teaching in China from 2009-2013

[joaodecarvalho]

How many people are lying flat and letting it rot? Do they count in unemployment statistics?