Completing your degree will be a moment of pride and joy. But recent photos posted on social media by graduates in China prove otherwise. Young Chinese are spreading their university caps on the ground and proving they are “defeated” by illustrating the difficulties of entering the job market in one of the world’s fastest-growing economies.
Summer is usually a Rising youth unemployment rates, as Tens of thousands of graduates flood China’s job market According to The periodical. However, recent data show that educators do China faces a “poor job market” as it has a record, Second oh Financial Times.
On social media, finalists post photos that go viral, Lying on the floor with an academic cap, he throws the diploma in the trash.
Unemployment rate among Young people aged 16 to 24 reached 20.8% in May. Clearly above April recorded 20.4% According to published data Office for National Statistics. It is Four times the general unemployment rate surveyed, It was unchanged at 5.2% Time magazine.
Economic and social situation
Youth unemployment Since the beginning of 2022, there has been more arises from Disruptions due to Covid-19 And this A downturn in the real estate market Added to existing structural problems in the labor market.
Chinese economists predict that Young people will be punished in years to come. A glut of graduates and a shortage of productive workers — due to the aging of the active population — is worsening Disparities in the Chinese labor market.
“A Education is faster than economy i.e. more diplomas were awarded than required for a An economy based on manufacturing industry“, economist Keu Jin told Reuters.
Diploma holders Compete for jobs in one of the fastest growing economies in the world, But whose organization, basically The manufacturing industry is out of touch with the aspirations of its younger generation.
oh A Goldman Sachs report, cited by the Financial TimesEmphasizes that youth unemployment in China is not entirely out of the question European countries like Italy and Spain.
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