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| Wednesday Briefing: Few Jobs for Chinese Graduates | Wednesday Briefing: Few Jobs for Chinese Graduates |
| (32 minutes later) | |
| This year’s estimated graduating class of 11.6 million students is expected to be the largest ever in China. But the youth unemployment rate has doubled in the last four years, a period of volatility induced by Beijing’s “zero Covid” measures that left companies wary of hiring. | This year’s estimated graduating class of 11.6 million students is expected to be the largest ever in China. But the youth unemployment rate has doubled in the last four years, a period of volatility induced by Beijing’s “zero Covid” measures that left companies wary of hiring. |
| In June the unemployment rate for 16- to 24-year-olds in urban areas hit a record 21.3 percent. The numbers for July are expected to be even higher as the next wave of students graduate. One college president told students to “not aim too high or be picky about work.” | In June the unemployment rate for 16- to 24-year-olds in urban areas hit a record 21.3 percent. The numbers for July are expected to be even higher as the next wave of students graduate. One college president told students to “not aim too high or be picky about work.” |
| Notably, the economy is volatile. China’s trade numbers fell in July, another challenge to its slowing economy. Government crackdowns and tighter supervision have also subdued once-vibrant industries such as online education, technology and real estate — fields young people had flocked to for jobs. | Notably, the economy is volatile. China’s trade numbers fell in July, another challenge to its slowing economy. Government crackdowns and tighter supervision have also subdued once-vibrant industries such as online education, technology and real estate — fields young people had flocked to for jobs. |
| In 1992, just 754,000 students enrolled in colleges and universities. As more young people pursued higher education, there has been a mismatch in the jobs they want versus what is available: China’s economy has not created enough of the high-paying white-collar jobs that many college graduates are seeking. | In 1992, just 754,000 students enrolled in colleges and universities. As more young people pursued higher education, there has been a mismatch in the jobs they want versus what is available: China’s economy has not created enough of the high-paying white-collar jobs that many college graduates are seeking. |
| What’s next: The problem of youth unemployment may not abate for a decade, a Chinese think tank estimated. “If it is not handled properly,” it said in a report, “it will cause other social problems beyond the economy, and it could even ignite the fuse of political problems.” |