Today, I will explain the following website. (AI-generated)
アングル：中国大卒者に空前の就職氷河期、妥協やニート生活も（ロイター） – Yahoo!ニュース
Contents
Understanding the Employment Crisis for Chinese Graduates
The job landscape in China presents a daunting challenge for millions of university graduates facing an ’employment ice age’. With a surge in unemployment, many are forced to accept low-paying jobs or rely on their parents’ pensions, leading to a ‘neet’ lifestyle—neither employed, educated, nor in training. The term ‘lanweiwai’, mirroring the unfinished ‘rotten tail buildings’ in the real estate sector, has become a buzzword for graduates unable to secure desirable jobs.
The Current Job Market in China for University Graduates
China’s labor market, flooded with a record number of graduates seeking employment, has lost its vitality due to the COVID-19 pandemic and government crackdowns in finance, high-tech, and education sectors. The unemployment rate for young people aged 16 to 24 exceeded 20% for the first time in April last year, peaking at 21.3% in June before authorities halted its publication citing a review of statistical methods.
Factors Contributing to the Unprecedented Employment Ice Age
The economic slowdown, particularly the pile-up of unfinished real estate projects, has exacerbated the employment crisis. The government’s stringent measures in various industries have further dampened job prospects, leaving graduates with limited options and pushing some towards crime for survival.
Impact of Economic Policies on Job Opportunities
President Xi Jinping has repeatedly emphasized that finding jobs for young people is a top priority. The government has launched measures such as job fairs and support for companies expanding recruitment. However, the promise of better jobs and improved living standards remains increasingly out of reach for many graduates.
Challenges and Coping Strategies for Graduates
Graduates are grappling with the harsh realities of a stagnant economy, where even those with master’s degrees are not immune to the adversities. The intense competition in higher education does not guarantee job security, compelling many to lower their expectations or accept any job to make ends meet.
Accepting Lower Wages and the Rise of ‘Neet’ Lifestyle
Some graduates, unable to find work, return to complete dependency on their parents. Zephia Cao, a master’s graduate, abandoned her job search in Hebei province after realizing the wages did not match her qualifications, while Amada Chen quit a sales job at a state-owned enterprise after just one month due to low pay and long hours.
Re-evaluating Career Paths in a Stagnant Economy
Graduates are reconsidering their career paths, with some even contemplating shifts to entirely different fields like modeling, as traditional job offers dwindle. The saturation of certain academic fields and the lack of alignment with market needs add to the uncertainty.
The Dilemma of Overqualification and Limited Job Prospects
Despite excelling in competitive academic environments, graduates face the grim prospect that their qualifications do not translate into job security. Their choices are often between lowering their salary expectations and taking any available job to survive.
Government Initiatives and Future Outlook
The Chinese government has taken initiatives to mitigate youth unemployment, but the mismatch between academic overproduction and market needs persists. Long-term projections suggest that the number of graduates will continue to exceed labor demand until 2037, with a peak in graduate numbers expected around 2034.
Efforts to Address Youth Unemployment in China
Despite government efforts to create job opportunities for young people, the high unemployment rate remains a critical issue. The abrupt halt and subsequent recalibration of unemployment statistics last year have raised questions about the transparency of the employment situation.
Academic Overproduction and Market Needs: A Mismatch
The dramatic increase in university enrollment since 1999, aimed at accelerating economic growth, has led to an oversupply of graduates. This overproduction has not been fully resolved, despite concerns expressed by authorities and the mismatch between graduates’ fields of study and market needs.
Long-term Projections for Graduate Employment Trends
According to government-affiliated academic research, the oversupply of university and vocational school graduates will continue until 2037, with a rapid decrease expected thereafter due to declining birth rates. The peak in the number of new graduates is likely to occur around 2034, with an estimated 18 million graduates entering the job market.
