After this years cohort of new college graduates hit the job market, Chinese surveyed urban youth unemployment rate has hit 18.9%, the highest it has been since China changed its methodology to exclude students from its calculation. Before the methodology change the youth unemployment rate was around 24%.
This is relevant because it is an economics problem, pointing to an almost uniquely China sort of issue of overproduction, in this case of white collar workers. There is simply not enough domestic demand for these educated workers, leading many to either give up or pursue manual or gig work.
Zuliano1 on
Meeting China at a very European time of its life.
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After this years cohort of new college graduates hit the job market, Chinese surveyed urban youth unemployment rate has hit 18.9%, the highest it has been since China changed its methodology to exclude students from its calculation. Before the methodology change the youth unemployment rate was around 24%.
This is relevant because it is an economics problem, pointing to an almost uniquely China sort of issue of overproduction, in this case of white collar workers. There is simply not enough domestic demand for these educated workers, leading many to either give up or pursue manual or gig work.
Meeting China at a very European time of its life.