Breaking into China's job market amid record-high youth unemployment
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- Опубліковано 8 сер 2023
- New inflation data from China shows prices dropping for the first time in two years, but the country is struggling with a lack of consumer demand, making it hard for new graduates to get jobs. Janis Mackey Frayer reports.
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#China #JobMarket #Employment
I've been in that situation before, went to a job fair at a community college. Every company hiring there told me I was overqualified for their positions.
And then you apply to other positions and you end up underqualified. Job hunting is such a pain....
Imagine wasting time and money studying in university just to work in a retail or hotel. I would just quit too.
During a transition period is rough. It's an interesting problem to have so many highly educated and not enough jobs while many also choose not to work available factory jobs. I think there was an article saying China has surpassed US in the number of people with advanced degrees. But not having a job after spending the money on education is hard.
I mean it’s not hard when they have 3x the population of the usa.
The number of people is not important. By Percentage, China lags behind the US. They hardly have any world class Universities (most are based in the US or UK). The OECD ORG under their 2022 SAG report found that only about 8% of Mainland Chinese currently hold any form of degree. Compare that with the US is 53%.
@@Blaze6432 How is it not important? they have 10 million bachelor graduates every year, if 1/3 of them study stem fields, that is already 3 million stem graduates compared to 4 million graduates in the USA that includes masters, bachelors and associates.
highly educated but in wrong field or education
China is a sinking ship......yea im sorry for the young people, but China is evil. I'm personally glad China as a country is going down. Sorry, for the people not sorry for the shady corrupt government.
Surplus jobs in manufacturing is a lie - ask anyone who tried to find such a job this year anywhere in mainland China - the picture is always the same - a lot of applicants and very few positions who are only interested in narrow age group, very little pay, and expectation of constant unpaid overtime.
The real unemployment rate for young people is about a half at least, and people who are employed are not that much better - almost everyone had several paycuts and layoffs just this year - and more may be coming.
In some places the choice is seemingly to die of exhaustion on the job, die on the streets due to lack of funds without one, or go to countryside villages and die of starvation in secrecy there. People are only surviving on amassing debt and/or personal and family savings but those are already running out due to 3 years of complete lockdowns.
Entire sections of some cities are seemingly abandoned because of sharply dropped number of orders from anywhere this year, factories are downsizing and closing en masse. Ports are stacked with empty containers and almost no ships. Literally everyone and everything it seems is in debt, have a lot of debts unpaid to them, an no one has any money.
Manufacturing is moving to India, Vietnam, Indonesia and other countries at surprisingly high speed among the fears of unpredictable regulations, rising costs, increasingly random fines and corruption, deflation, increasing hostility toward foreign countries, companies and individuals, looming war with Taiwan + associated sanctions, stunningly harsh but pointless measures such as zero-C0V1D, huge floods caused by sluice gates being wide opened abruptly in secrecy deep at night, unprecedented levels of censorship and fake data making any economic predictions impossible, etc.
I dont know about china but where i live we have a manual labor shortage. People twice my age are the majority. I work labor because the opportunities are plentiful. But as i said i work with people literally twice my age.
If these Chinese youths who are so well educated, I can't imagine those American youths who are high school dropouts will ever have a chance in life but to work at the MacDonald's!
Blue-collar trades in the US pay 80-100 grand a year. The US is not a poor country unlike China
@@anuragchakraborty8766 You stated it well. Logically true! And those people who always like to compare China and the USA; those blinded by the propaganda of the evil and scheming Communist Chinese Government . .
China's median income is currently about $49,200 which is quite awful when you put it against places like the US, which stands currently at about $76,000. In 2021, 53.1% of Americans had a degree, compared that to China in 2022 where only about 8% had any kind of degree. So yah, keep spewing nonsense.
This was us in 2008. Sucks
That’s the problem with overpopulation. The good is really good but the lows are really low
Janice! What is going on in the world, Janice?!
that's totally true about China,the working culture is totally toxic, you gotta overtime working for free, just like a infinity overtime working,the salary is really low, $30 equivalent is average ppl's salary, if you live in Beijing or Shanghai , salary might be higher , but the cost of living is higher too,a bunch of people just paid their bills
@MaxineWashington Doesn't china have regulation / unions that can force companies to limit working hours and overtime?
@MaxineWashington my cases is I work for a company not a factory,I need to reply to our coworkers, our heads, our customers even I’m off,so stressful, and sometimes randomly overtime working in the office , all for free
@@mariosubatrop3080There are such regulations. But in China, overtime is often considered a hidden rule. Generally, young people do this in order to leave a good image in front of their leaders. At the same time, many people also work overtime due to heavy work. As for trade unions, in my opinion, Chinese unions are not as tough as foreign unions, even though China is a socialist country.If people try to defend their rights, they will mostly succeed, but it may also mean losing the job. Many people find it difficult to bear such consequences.
Why are they counting in people age 16-22
Most of these people are in college or still in high school
Thanks to America
which jobs are they talking about like engineering?
How many people are lying flat and letting it rot? Do they count in unemployment statistics?
Let it rot.
Marriage?🤣 At this place in my life, the state of the economy, and what I see coming down the pike, are you serious?
Europe has a major shortage of educated grads… but those countries are too scared/under the US’s thumb to hire Chinese grads.
This is actually a surprising good economic piece.
yeah you wish everyone else die
Don't say why. Don't care.
No, it's not.
@@Manx123it's interesting as an American, we got the same problem here
@@jackeagleeye3453Yeah, no, lol
Things are bad here, but we are not only decades before we get as bad as China, but China, unlike the U.S., is slumping economically.
It 'll get worse with AI & Quantum computing
yea right its 21% for them, more like 60-70% unemployment rates. Most are doing Uber/Doordashing food or people. It is what it is because too many jobs lost and will never come back as it left China.
Is 46% effective unemployment scary to a brittle government?
46% youth unemployment from age 16 to 25...pray tell ..who works at ages 16 to 22?
Emperor Xi has lost the mandate of heaven
@@user-ug3rz4cu4sin China the unemployment is based on people seeking for work. So it’s only worst than the numbers stated. Many that work 1 hr a week is considered employed. Think about that.
If CCP can stay in power after starving tens of millions of people to death (people who have nothing to lose and have seen countless uprisings pre-PRC), they can handle pampered gen-Zers who are too soft for blue collar jobs.
@@CastleLager-lf5euyou got brain?
so right now all these 'experts' simply lie?
in the US the unemployment rate is using the number of people who are actively seeking jobs instead of people who are available.
This is one of the most basic things you can learn from an economy 101 class.
Little Pinks better pray for luck, pray to Winnie the Pooh , because you have only one destiny, the destiny to deliver FOOD! 😂
Well Europe needs people.
US and European companies are going to India and Vietnam.😊
" just gradated from university" Or unemployed freeloading NEET.... His only options are sales, insurance salesman or mover... You don't need a degree from expensive university for that.......
The tragic thing is a lot of jobseekers are over educated. The companies might require a college degree for mover positions which is absurd.
This is due to America
Sounds like another country i know of.....
Lol Did she try to imitate the way the pronounced 'luck'? "Lahk"
0:53
She's asian pal
In China, resume required photo, age information, thats legal there. In addition, there's a section to fill out for ethnicity, the Han majority will be pay higher than the minority Chinese, those are from province further away. I noticed this when i was teaching in China from 2009-2013
I hope you weren’t teaching grammar.
10 years changes a lot, especially in a developing county like China, Your personal experience is no longer reliable,
@@anypercentdeathless Maybe it's his second language, how many languages do you speak?
@@birdsnature6421can you factually confirm otherwise? Probably not. That is me assuming just like you’re assuming.
Your saying the minority are paid less is completely wrong. As a matter of fact, the minority in China are the privileged ones.
Young people got mad about 35 years ago, they protested and it made the world notice. But China quickly struck it down but it made an impression, that event was called Tiananmen Square
Just wait until AI becomes mainstream.
What about the US lol
NBC is worried about Chino
Never see Chino, CA in NBC. Chino is doing okay compared to others cities nearby.
So many ridiculous comments I can't possibly answer them individually, so I will respond collectively. Bunch of xenophobic know it alls who obviously know oh so little about economics specifically, and humanity in general.
Plenty of black youth shooing each other in USA
Hey man we need those dumb people
Yet Black people in the US currently have made strives in all fields. How many presidents in China have been women or ethnic minorities?
Hmmmh Villa
Most young ppl ard ain’t doing nada…lol
Chinese economies are successful because American companies built them. China is an American product. It is likely that China's economy will go down if there is no US. The Chinese economy was strong because of free enterprise systems. There is a devastation of CHINA's economy due to Xi's economic system. No matter how much money they have, China will never be the leader of the world. They needed 3 things to be the world leader. Civilization, Humanity, and don't steal from people either land or Intellectual property. Why people don't respect China like EU or America? Is anyone interested in being friends with a dictatorial communist regime?
China is just the greatest country. 🤗
Just get rid of minimum wage. It serves no purpose other than to force companies to hire less workers. No one has to work for anything less than they want to. Getting rid of minimum wage will allow full capitalism. Minimum wage = capitalism/2 It's half capitalism. A whole half of capitalism is hobbled by minimum wage because workers can't negotiate experience. EXPERIENCE is pure gold.
People should see how much unemployment is there in India 🤣🤣🤣 china will shocked to see the 8.5 % unemployment rate 🤣
what's the big deal? there's always the military.
they can build up their resumé in the taiwan invasion.
Not logical. If there are more old people then the old people would be the customers and if anything the young should have too many jobs to choose from. Companies should be thirsty for workers and not the other way around. A job deficite would only make sense if there are too many young people. Could it be possible that young people are just being picky and holding out for the best jobs?
Old people? You mean retired and on limited income like a pension or social security? Old people don't spend much unless you are rich. The majority of retired people don't have that kind of disposable income. Second, China is in deflation. Prices are low so are wages and profits. Less production means higher unemployment.
The economy is struggling so companies are more reluctant to hire new staff.
If you have a college degree would you agree to work as an assembly line factory worker who earns less than minimum wage since you need to work so much overtime? Why did you get a degree in the first place?
Young people should do UA-cam videos . Jobs are know slavery working for big corporations that run they city and corporations pockets
UA-cam is banned in china😂😂😂
UA-cam is the same rat race except that you’re at the mercy of the algorithm
Corporations can no longer produce enough jobs for the population especially in the US That's why we have a fentanyl and drug epidemic to cut down the amount of people and knock them off in the labor pool
Doctor Jill loves children
@@robertbirch5676 😂
That’s something a junkie would say
@@midstar1995 but it's true there's a video on the world economic form that over time we're going to lose a net loss of jobs due to automation AI Goldman Sachs even put out there for a couple of months ago saying that $300 million jobs in the US and Western Europe might be affected as well on top of that the CEO of IBM said that a lower birth rate might be better for his business it's all articles that you can look up yourself
Propaganda Machine
Chinese people are best working in the factory!!
High unemployment is not a problem you would expect from a shrinking population. But there you go! China, country of paradoxa
Maybe President Xi will realize that economic growth is more important than consolidating power within the socialist programs.
Maybe he won’t. I wonder how high the youth unemployment rate has to be before he realizes that employing young people should not be under-estimated.
I wonder how long it will take before President Xi realizes in his mantra to ‘eat bitterness’ that bitterness contains no calories.
It’s Americas fault, nothing to do with Xi.
blah blah blah
Can we see the black teens employment stats, since the have plenty of clothes they flash mob
suggesting what’s happening in China will happen to other countries is absurd lol
Yeah because it is already happening everywhere.
It’s already happening in the US. It’s just called “Anti-Work” and “Quiet Quitting.”
US, Canada, UK, Australia, France, can help by bringing in more Chinese migrants into their countries and having more Chinatown in every cities
Really?! Thanks
They should be praying for new governance! Or Xi Pingpong should have never existed!
bai lan
there are plenty of jobs in China, it's just no one wants to do it. the same is happening here in the US, college graduates just don't want to let go of their egos. Many place are hiring construction workers, food deliver, and servers.
Can these jobs provide money for retirement…? Economic stability…? People don’t want to spend the rest of their lives barely making it
US paid way more than China in those industries. There is no use comparing US to China
did they study for this
Do the right good thing to survive.
their qualifications are not fitting the job market, so many industries are having worker shortage but these young people are only working for fancy jobs 😂😂
LESTER IS a house boy
Engineering virus
Reep your karma 😂
Chinese girlfriend here I come!
😂 that was funny lol
1.3 billion people and they cant find a job?
I cant stop laughing
At least Chinese spy balloon can circle over US military installations
They can consider working in the Uyghur camps ? I guess that’s the only company hiring in China?
Yeah but they don't really provide wages so ...
The 16 to 24 years old young men and women can continue their university education in Bachelors, Masters, and Doctorals Degrees instead of loosing their time looking for jobs. China is a Great and Beautiful country with great educational opportunities.
Wumao.
Hey d bag these are educated youth. They have done there bachelors and masters and phd and still cant get work.
If China is a great and beautiful country with great educational opportunities; why are there so much Chinese professionals lining up in different western embassies to get out from China and to migrate to other countries?
@@Turnpost2552 You nailed it well! They are well-educated and why they cannot find a job?
How to continue university without any money ?
Hey new graduates! Look for jobs in Singapore. Singapore loves to hire Chinese citizens because they want to bolster the Chinese super-majority in the nation. Mandarin is widely spoken there and the salaries higher than in China.
noway, SG is looking for the rich only, not average chinese
You are correct that Singapore loves to attract rich Chinese to buy property and live there but there is also a huge number of Chinese workers in every sector and unlike most foreign workers, they are encouraged to take up PR and citizenship @@kenyup7936
Good luck getting that work visa in Singapore lol.
The weather sucks
be my guest...
Lotta wumaos in the comments. Indicative of how sensitive this topic is for the CCP.
Full of racism comments in the comment section. This is indicative of the hateful nature of your society.