China’s Graduate Dilemma

Monday, August 9, 2010 21:03
Posted in category The Big Picture

If there was one group that was hit the hardest by the economic downturn was college graduates, and as I have managed to time both of my graduating dates in the middle of bad economic times, I can attest that it sucks to be looking at a bad job market 6 months away from graduation.

For China, the problem is particularly acute due to the fact that China is putting out more than 6 million college graduates a year (everything is about numbers in China), and while the economy has posted more than 10% growth, the fact is that the economy is not producing jobs for them in the numbers needed.  Sure, there are “labor shortages” occuring on the East coast (perhaps a 30% bump in pay would cure that), and no doubt there are plenty of bridges needing on-site engineers, but graduates are far more likely to stick it out in the big city for a high value jobs… banking, PR, accounting, logistics, etc… and were more interested in jobs that would offer more potential opportunity than a hard hat.

A plot that the above 6 minute clip offers a bit of perspective on.

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9 Responses to “China’s Graduate Dilemma”

  1. China says:

    August 10th, 2010 at 2:30 am

    This is a big problem in China. and it is very difficult to work it out.

  2. Asia News Girl says:

    August 10th, 2010 at 1:02 pm

    its the same everywhere isn’t it?

  3. Rich says:

    August 10th, 2010 at 1:39 pm

    @China – agreed

    @ANG – Soft job markets for graduates are certainly an issue that many markets face, but given China is the only growth story in the world right now, I think the job market here deserves a bit of extra attention.

  4. Asia News Girl says:

    August 10th, 2010 at 1:42 pm

    True true. That’s what I wanted to say as well… But I got a bit lazy typing!

  5. Max Henry says:

    August 10th, 2010 at 5:25 pm

    Rich, although the first screenshot shows, the video will not load. Vimeo may be blocked by China Telecom again.

  6. Don Tai says:

    August 11th, 2010 at 12:27 pm

    The employment market for everyone certainly sucks here in Toronto, Canada. I’ve been reading stories of Beijing’s “Ant Colonies” with a great deal of concern. What to do with all those smart Chinese technology graduates? How about have them start cracking government websites worldwide? Oh, that’s been done?

  7. ian channing says:

    August 11th, 2010 at 5:33 pm

    It stinks in Britain too. Increasingly, grads are doing stints as unpaid interns to get a foot in the door. Plus, they can hardly afford to leave home. This seems to be a worldwide problem.

  8. Michael says:

    August 13th, 2010 at 3:15 am

    The spoilt generation and their sense of entitlement. Boo hoo. I just graduated from college. I have no experience, but I can’t get a job with one of the top advertising agencies like Oglivy. I can’t afford to dine in business restaurants, I can’t afford Gucci handbags.
    Why don’t you go to Guiyang or Datong and get some experience in the real world with a local company and come back in five years. Next …

  9. Sherilyn Palamino says:

    August 11th, 2011 at 2:43 am

    For China, the problem is particularly acute due to the fact that China is putting out more than 6 million college graduates a year (everything is about numbers in China), and while the economy has posted more than 10% growth, the fact is that the economy is not producing jobs for them in the numbers needed.  Sure, there are “labor shortages” occuring on the East coast (perhaps a 30% bump in pay would cure that)

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