The number of college graduates in China has reached record highs in recent years and is expected to exceed 9 million for the first time next year. Due to the shrinking market, the demand for jobs in China has dropped significantly this year, and hiring has been delayed. Some scholars believe that if the situation continues, the consequences will be dire.
In 2018, the number of college graduates in China surpassed 8 million for the first time. China’s Ministry of Education and Ministry of Human Resources and Social Security announced Tuesday (1) that by next year, the number of new graduates will surpass the 9 million mark and is estimated to reach 9.09 million.
The hiring has been delayed this year amid an epidemic that has driven down demand in China. Earlier, there were questions about official falsification of graduate employment data, such as the expansion of the definition of “employed” to categorize graduates with blogs as “flexibly employed,” and the requirement for universities to sign employment agreements to classify employment rates as “flexible. “Seepage”.
Independent economist Qin Weiping says Chinese college graduates generally face employment difficulties this year based on a variety of factors.
Qin Weiping: “In fact, at least half of the new college graduates are ‘unemployed upon graduation’ and basically cannot find a job. The so-called “unemployable” may be the concept that one cannot find a job within three months, six months or even one year. The employment situation is very tough, due to the expansion of universities on the one hand, and the economic downturn on the other. On the other hand, there is a certain degree of disconnect between university education and social needs.”
The economic downturn, he said, has made it normal for private companies to shrink in size.
Qin Weiping: “The private sector is now facing a very bad survival situation, and can only survive with a broken arm, maintaining basic survival, without the ability to hire new employees. Where can millions, if not tens of millions, of these highly educated people find employment?”
Graduates still eager to join civil service
Many of China’s college graduates aspire to join the civil service or state-owned enterprises, which are relatively unaffected by the economic cycle. The media have reported that some doctoral students from top universities have been employed in grassroots street offices.
Qin Weiping: “For society as a whole, if the best students don’t aspire to struggle in society, to create more value, to innovate, to do research and development, it’s also a waste of talent. In a normal society, it is unlikely that the best talent would be in the government. If all the best young people are employed in the government for the sake of so-called stable jobs, the future of the country as a whole is also worrying.”
At Tuesday’s working meeting, even the Ministry of Education and the Ministry of Human Resources and Social Security admitted that the actual employment situation for new graduates next year may be even worse than expected.
Qin Weiping: “Millions or even tens of millions of college students with some degree of education will eventually vent their grievances if they lose their jobs. Most of the students who could not find a job and started their own businesses ended up failing or even taking on heavy debts. Some will take revenge on society, while others will point their fingers at the government.”
Another economist, He Jiangbing, however, believes that China’s economy will rebound next year and that the employment situation for college graduates will be relatively optimistic. He is especially optimistic about the Internet-related industries.
He Jiangbing: “It’s very difficult to apply for the civil service exam, but private enterprises and the Internet industry are most likely to accommodate university students. After the epidemic, Internet companies basically work from home, which is in line with the way modern college students work.”
He predicts that the salary level of new college graduates will remain stable next year.
Recent Comments