[Correspondent Diary] Even Xi Jinping Steps In on China's Youth Employment Crisis..."Worst Job Market"

6 Million of 8.7 Million College Graduates Unemployed This Year
Concerns Over System Stability Arise, but No Suitable Alternatives Available

[Image source=EPA Yonhap News]

[Asia Economy Beijing=Special Correspondent Jo Young-shin] "Everyone seems to have a job except me. My parents don't say anything, but I can tell they are worried. The financial pressure is also huge." College graduate job seeker (Tian Tian)

"I’m supposed to be interning at a major company in Beijing, but I have been at my home in Sichuan Province for seven months." College graduate job seeker (Kang Xiaolai)

China, still managing the aftermath of the COVID-19 pandemic, is struggling to resolve the employment difficulties faced by university graduates. The state-run Global Times even cited another state-run TV channel, CTN, to report on the employment crisis, reflecting the serious concern felt internally.

The employment difficulties for Chinese college graduates are severe. According to a report from the State Council Development Research Center, out of 8.7 million college graduates this year, approximately 6 million are estimated to be unemployed as of the end of June. Some even say China may be facing its worst employment environment since the Cultural Revolution in 1976.

Given this situation, some graduates have started to give up on securing jobs at major companies and are lowering their expectations to find employment. Additionally, there is a growing number of applicants turning their attention to the Western China Development Project. Although working for 1 to 3 years on poverty alleviation in underdeveloped western regions such as Xinjiang Uyghur and Tibet is not easy for graduates who have grown up without hardship, they are choosing this path out of necessity to secure a job.

The number of young people giving up on employment to pursue graduate studies or prepare for civil service exams is also rapidly increasing. The belief that being a civil servant is the most stable job is common in both Korea and China.

Job seeker Tian Tian said, "Last Saturday I took an exam in Zhejiang Province, and on Sunday in Jiangsu Province. I am taking civil service exams almost every week in different provinces," expressing frustration over the employment difficulties. An executive from a company also mentioned, "Due to the employment difficulties for college graduates in China, salaries seem likely to drop significantly."

In China, jobs are not just about making a living. Experts evaluate that employment is closely linked to regime stability. For this reason, the Chinese government is encouraging both state-owned and private enterprises to expand hiring to overcome the graduate employment crisis. However, there are no suitable measures yet. Chinese President Xi Jinping has also stepped in to soothe the dissatisfaction among young people. Seemingly aware of the employment difficulties, he sent a congratulatory message to the 13th National Congress of the All-China Youth Federation held on the 17th, praising the wisdom and contributions of Chinese youth in building a prosperous society and acknowledging their efforts in the development of Chinese society.

This content was produced with the assistance of AI translation services.