46.5% Youth Unemployment Rate! China’s Economy Is Unbelievably Poor | Mid-Aged Dilemma

In the aftermath of the pandemic, China's economic recovery seems elusive, with layoffs and unemployment news pervading every corner. The unemployment rate for Chinese youth has been hitting record highs, and the circumstances of middle-aged unemployment are equally alarming. The mainland market can no longer accommodate the influx of graduates, and the real phenomenon of age discrimination against those above 35 is worsening. For many professionals, turning 45 signifies the end of their career path, leading to permanent unemployment.
#unemployment #chinaeconomy #chinaobserver
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[brianchu]

I can’t imagine being disposed off at age 35 +. It’s really really heartbreaking. The high unemployment rates at these demographics is going to wreck the social fabric. Just a matter of time.

[ef]

It's not the matter of age or education. It's all about who you know. No connections, no job.

[louisgiokas]

The insanity of the CCP system never ceases to amaze me. In most economies, the workers above 35 are the most productive. The Chinese companies are throwing these resources away. In addition, from a capital formation point of view, this cohort is at the peak of their investment years. In real economies they are the ones taking risks and investing for their futures. Almost everything the CCP and Chinese society has done in the past several years has been detrimental to their own people and prosperity and is making China a pariah on the world stage.

China needs to decide. Become an open, capitalist society, or sink back into communism and isolation. It is clear that Xi and the CCP want the later. It is a disaster for the Chinese people.

[humhaingyani]

If this is what a developed China looks like, I don't need such development

[TheRussellStover]

So...35-55 year old people are discriminating against 35+ year old people practicing age discrimination? That's so messed up.

[allenaxp]

The high unemployment rate is having a devastating impact on many people in China. Young people are finding it difficult to get their foot in the door, and middle-aged workers are being laid off in large numbers. This is leading to social unrest and political instability.

[RamBo-yhkz]

I started my new career as a Registered Nurse at 50 here in Canada. I was a hot commodity. In the West, age doesn't matter.

[patrickwilliamson]

"The true predicament of China's economy is soo complex, that even economists struggle to provide a rational explanation"

It's even more difficult when you don't have all the information and some of it has been purposely altered by the government

[j]

If half of young people are unemployed, imagine the absolute crash in the birth rate, beyond it’s already extreme low.

[robertezergailis]

We have to keep in mind that a very significant percentage of the jobs in today's China are "tofu jobs" in the same way that China is now known for constructing "tofu architecture". It simply does not last, and it falls down, into ruins, as quickly as it was built up. They are not real jobs with real futures. They are artificially created jobs that were not really needed and have no real purpose. When the economy starts to break down all of those tofu jobs begin to crumble and disappear. The false economy reveals its true nature, with devastating economic consequences.

[thevoxdeus]

Well, if it's true that middle-aged people can't find jobs and it's also true that youth unemployment is close to 50%, then that doesn't indicate that there are very many jobs of any kind to be had.

[Zach-xqrs]

This is why y’all need to get laws against age discrimination like we got in the US

[calipdis]

Im 35, ever since I started working I always knew that at anytime I could be unemployed without income or prospects, instead of buying houses, cars, living a lavish life etc I lived frugal, saved and invest everything, had no family or kids and now I could live happily just with the interest I get and keep working just for increasing the interest without anything that makes me a prisoner or desperate for a job. Debt is a jail that you should avoid at all cost.

[LivingWithGout]

And in the US we have 70s, 80s, 90s refusing to stop working. Warren Buffet, Charlie Munger…etc.

[kkiller]

It's exactly like the movie "Falling Down" with Michael Douglas. A classic, really good. A guy loses his high paying job, and pretends to go to work everyday. Until he cracks.

[chm]

Feel bad for these people. Sounds like they are hard working members of society, but the system they live under is letting them down.

[Vk-wxls]

Feel terrible for these youngsters, their only fault is that they have been all too loyal to their Govt and system

[peterphan]

Gee, who would have ever thought that communism and corruption would destroy a country? 😂

[ronnelacido]

Unemployment is also worsening elsewhere, including developed countries. What makes China's worse is that there is no safety nets for those who lose their jobs. Your only fall back on is your savings, if you have one. The rampant age discrimination tolerated by the government inflame the situation even more.

[powerequalsgod]

China’s harsh age discrimination trends with employment sums up why it’s a disaster to own real estate throughout the entire country. These middle agers with mortgages are so screwed becoming jobless or low paying positions. The CCP should be scared to death by these trends.