China Employment Rate, Dragon’s bad days! Youth jobless rate in China might have hit around 50 percent says a professor
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Article removed from internet
Professor Zhang Dandan of Peking University wrote an online article for Caixin Magazine. In this, he said that if 16 million youth who are not students and are at home or dependent on their parents, then the unemployment rate can be up to 46.5 percent. Zhang is an associate professor of economics at the National School of Development, Peking University. His article which came in the past has now been removed from the internet. According to the figures which came from the NSA last days, the unemployment rate in June was more than 20 percent. The country’s official youth unemployment rate only includes youth actively looking for work.
Most impact on manufacturing sector
China’s economy is the second largest economy in the world. Policymakers have struggled to get the economy back on a more stable footing since the COVID-19 pandemic. In the article that Zhang wrote, he cited the manufacturing centers of Suzhou and Kunshan located in eastern China. He wrote, ‘Till March, only two-thirds of the employment at these centers has been restored. While the epidemic has weakened. He said that the youth are an important part of the manufacturing sector and as such they have been affected the most.
difficult to get a job in china
Apart from this, the young workforce and well-educated people in the tuition, property and online platform sectors have also been negatively affected. A user on China’s micro-blogging site Weibo criticized Zhang’s article and called it beyond facts. While some other users discussed how difficult it is still to find a job in China. According to a Weibo post, ‘So many graduate students come to appear for post graduation or civil service exams instead of looking for jobs. The reason for this is that they are unable to get jobs.
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