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China / Only 3% of College Graduates Find Jobs

A mere 3 percent of China’s recent 6.9 million college graduates had found jobs in the country as of May, news portal eastday.com reports.

According to the recent employment situation report issued by a job-hunting website on Thursday, China’s financial hub came in at fourth place on a competition index of graduates looking for jobs among 28 cities in China, following Guangzhou, Shenzhen and Suzhou. The report said on average about 101 graduates sent resumes to apply for the same position.

The employment situation report also said the competition index in Shanghai this year (96:1) was higher than that of last year (69:1).

The average monthly wage for graduates in Shanghai is 4,859 yuan-the highest in China-followed by 4,746 yuan in Beijing and 4,494 yuan in Shenzhen. Salaries also play a part in the increasingly fierce competition for jobs among college graduates.

As reported, state-run corporations, which on average have 162 applicants competing for each job vacancy, tend to be the first choice of college graduates compared to private enterprises, listed companies and public institutions.

Chosen excerpts by Job Market Monitor

Capture d’écran 2013-06-14 à 13.18.14

via Only 3% of College Graduates Find Jobs: Report.

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