### Summary
Millions of graduates in China are facing an increasingly difficult job market, with soaring youth unemployment rates and a slowdown in post-Covid economic recovery leading to a lack of job opportunities and increased anxiety among jobseekers.
### Facts
- Youth unemployment in China hit a record high in June, with 21.3% of people aged 16 to 24 being jobless.
- Graduates like Zhang, who has a psychology major, are struggling to find employment in their chosen fields despite sending out numerous job applications.
- The Chinese government recently decided to stop publishing age-related employment data, causing concerns about the true extent of youth joblessness.
- Inexperienced candidates attending career fairs in Beijing are finding it challenging to secure their first or second jobs, with employers mainly seeking staff for low-paying sales and administrative positions.
- The weak consumer demand and slower economic rebound after the Covid-19 pandemic have made companies reluctant to hire new employees.
- Companies that have survived the pandemic are now more selective in their hiring and prioritize survival over expansion.
- Some young jobseekers are facing difficulties due to limited development opportunities in certain industries and feel that government policies have not caught up.
- The Chinese government has introduced measures to boost consumption, such as large-scale festivals and sporting events, but more needs to be done to boost consumers' and employers' confidence.
- The insurance industry seems to have more job opportunities available, with many insurance companies looking to hire sales representatives.
- Despite the availability of positions in the insurance industry, job security and guaranteed income may be lacking.
### Emoji
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A record number of Chinese graduates are facing difficulties in finding employment, with soaring youth unemployment and a challenging job market driven by the country's post-Covid economic slowdown.
China's decision to suspend reporting its July youth unemployment rate has sparked controversy and speculation that the government is trying to hide unfavorable statistics, particularly as young people in China face a dire employment situation due to the economic impact of COVID-19 and other factors.
China's economy is facing challenges, with youth unemployment at a record high, mismatched skills in the job market, and the risk of falling into the middle-income trap, jeopardizing President Xi Jinping's goal of turning China into a high-income nation.
Youth unemployment remains high in most countries, with Spain having the highest rate at nearly 27.4%, indicating potential long-term impacts on young adults' careers and overall economic prospects.
China's government is concealing economic figures and data, including youth unemployment rates, as experts believe it prioritizes stability over transparency, leading to concerns and doubts about the true state of the country's economy.
China is facing a significant issue of mass youth unemployment, resulting in young adults being burned out or living at home without a job.
China's lottery ticket sales reached a record high in August, with $7.25 billion spent, as concerns about the economy and rising youth unemployment continue to grow.
China's youth unemployment rate of 21.3% poses a significant problem due to its potential impact on economies and geopolitical relations, with factors such as the Hukou system, overeducation, and emotional toll contributing to the issue. Addressing the problem requires aligning education with job market needs, reducing the urban/rural divide, providing mental health services, and implementing social security for gig workers, as well as international collaboration.
