China’s Graduate Dilemma
Monday, August 9, 2010 21:03If 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.
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.
Asia News Girl says:
August 10th, 2010 at 1:02 pm
its the same everywhere isn’t it?
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.
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!
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.
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?
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.
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 …
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)