In a first, more postgrads than undergrads are set to graduate in Beijing this year, Across China, a record high of 11.6 million expected to graduate

[Hamartia Antidote]

That's not a good sign. It means competition is fierce and a large portion of undergrads are unemployed or underemployed. There will be social problems resulting from this.

Sometimes these showoff pieces you post are not the wins that you think they are. Tone it down a bit.

As ‘weak confidence remains’, nearly 20 per cent of China’s youth jobless

As the jobless rate among those aged 16-24 hit 19.6 per cent in March, analysts say the lack of a strong labour market makes China’s consumers hesitant to spend, creating a ‘chicken-and-egg situation’ with slow organic job growth.

www.scmp.com

China jobs: rise in youth unemployment belies surprising economic growth, as ‘weak confidence remains’​

• The jobless rate among those aged 16-24 climbed to 19.6 per cent in March, but the overall unemployment rate dipped slightly to 5.3 per cent

 

[MH.Yang]

The idiotic trolls in this section claim China has a "demographic crisis" which will lead to the long-promised Coming Collapse on China(tm). If they understood anything, they'd know China has the opposite problem: too many highly qualified people are entering the workforce and the economy isn't generating enough jobs to employ them.

They're too stupid to understand that China can't simultaneously have two contradictory problems - a demographic crisis (too few workers) and a youth unemployment crisis (too many workers).

This is going to get worse in the future as AI and automation advance and it'll be particularly acute in China's case. I've thought about this issue quite a lot and one of my conclusions is that economies have a latent capacity for automation that's higher than their actual level of automation.

The reason is that firing large numbers of workers and reorganizing a business carries costs. Even if it's ultimately more profitable in the future, that cost barrier has to be overcome. That's why we don't see immediate mass firings from businesses in response to new technology. What happens is that during recessions, the business is forced to lay off large numbers of workers and it then "discovers" latent productivity. The recession forces it over the cost barrier of reorganization because its profitability and survival are at stake.

In an economy like China where technology is advancing at a blistering pace, very few businesses are capturing the full value of that technology. Their latent capacity is extremely high and slowdowns and intense competition are forcing them to fire/reduce hiring, which causes symptoms like high youth unemployment.

To be honest, these two are not contradictory.

We lack workers willing to accept low-end jobs with a monthly salary of 5kCNY ($800) or less.

We also lack job positions with a monthly salary of 10kCNY or above.

There are too many professionals with diplomas in China. These people cannot be willing to accept low-paid jobs.

In the short term, this may promote competition, which may have certain benefits for our development. But in the long run, too intense competition is definitely inappropriate and harmful.

To solve this problem, we can only carry out industrial upgrading.

 

[kankan326]

As I said earlier, China's demographic crisis won't become real in the next 40 years. This window time is long enough for China.

 

[beijingwalker]

That's not a good sign. It means competition is fierce and a large portion of undergrads are unemployed or underemployed. There will be social problems resulting from this.

Sometimes these showoff pieces you post are not the wins that you think they are. Tone it down a bit.

I posted it cause I think it's a problem, I also post protests in China, why do you think I believe it's a good sign? it's a big problem, the young generation are over educated and refuse to take factory jobs, they would rather stay at home mooching off their parents than find a job at all. I don't really worry about shrinking population, China will still have more than enough people for another century, the pressing problem is this one, the change of the mentality and life style of the coming younger generation.
In Beijing the education ministry now encourges students to be enrolled into tech schools instead of universities, but some concrete rules must be made if the government wants to make it happen.