Chinese Graduates Face Bleak Job Market Despite Slight Gains
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Record 11.79 million students graduated from Chinese universities in 2023, facing high unemployment and scarce jobs. Official youth unemployment rate reached over 20% in early 2023.
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Employment outlook improved slightly from 2022 but still lags far behind pre-pandemic levels. Rates range from 50-70% employed, with up to 25% neither working nor in further studies.
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Top universities see record low employment rates, as high as 70% pursue further studies. This delays job hunts.
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More graduates taking part-time and flexible work rather than traditional careers. Concerns over impacts on social stability.
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Hurdles persist slow economic growth, e-commerce disrupting jobs, emerging technologies reducing hiring, weak private sector investment.