Calay News
In China, unemployment among young people has reached record levels, leading some to feel so discouraged by the lack of work that they have decided to film themselves throwing their college diplomas in the trash. The government faces a new challenge with youth unemployment as it attempts to revitalize a weakened economy despite the removal of health restrictions imposed by the COVID-19 pandemic by the end of 2022.
For college graduates, well-paying jobs are scarce, even in the private sector. Many young people are forced to continue their studies or seek employment in the public sector, according to some interviewed by AFP.
Sampson Li, a 24-year-old recent graduate with a master’s degree in computer engineering, recounts that after weeks of unsuccessful job searches, he has decided to pursue a doctorate. Although he has passed several interviews at a large tech firm in Shenzhen, known as the “Chinese Silicon Valley,” the company decided to put new hires on hold. Li sighs as he mentions that three other companies offered him a below-market salary, which would not allow him to survive in the city.
According to official figures, the youth unemployment rate for 16–24-year-olds reached 20.8% in May, setting a new record after the previous record in April (20.4%). This figure is expected to rise in July when 11.6 million new college graduates enter the labor market, according to economist Larry Hu of Macquarie Group.
Despite Premier Li Qiang’s promises to provide stable employment opportunities for young people, economic stimulus and measures to boost the labor market have not had the expected results. Restrictions imposed by the Chinese government on real estate companies, technology giants, and education companies have contributed to the slowdown in China’s private sector.
Many sectors that relied on young people willing to work long hours for low wages are now suffering. The mismatch between the qualifications of young people and the demands of the labor market is also a problem, as the lack of vocational training opportunities means that many young people are unprepared to work in the service sector, which is one of the most dynamic sectors in China.
Competition for high-paying jobs has generated frustration among young people and led to a wave of memes showing young people discarding their college degrees or expressing despair. Lack of employment and low pay are persistent challenges for young people in China, causing many to opt for difficult and low-paying jobs.
