Young Chinese are putting off the job hunt. At the end of last year a record 4.6m people sat the entrance exam for China’s graduate schools
Save time by listening to our audio articles as you multitaskSome of these test-takers may have an abiding thirst for knowledge. But more than a few are probably keen to delay their entry into China’s labour market. The urban unemployment rate for young people aged 16 to 24 averaged over 14% last year. In April it rose to 18.2%, its highest level since the survey began in 2018 .
Their plight is easy to explain. The increased supply of university-leavers has met faltering demand. The economy is shrinking thanks to China’s strict “zero-covid” policy, which has locked down some of the best-educated parts of the country, such as Shanghai and areas of Beijing. China’s services sector, which employs many college graduates, contracted by over 6% in April, compared with the previous year.
When job prospects turn precarious, job aspirations turn conservative. College-leavers now crave stable jobs over dynamic ones. State-owned enterprises are their first choice, preferred by 44%, according to Zhaopin. Private enterprises lost popularity. Young people also seem keen to join the civil service. They have displayed a similar enthusiasm for the civil-service entrance exam as they have shown for the postgraduate test.
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