Although the job market in China is still much better than many other parts of the world, it is a tough market for graduates. Many job seekers have decided to shy away from the rat race and try other options.
A record-high 6.99 million Chinese students are leaving universities in 2013, a 2.8 percent increase year on year, to hunt for jobs at a time when employers are cutting down on recruitment, according to government figures.
The number of jobs for new hires this year has dropped about 15 percent year on year amid slowing economic growth in China, according to a Ministry of Education survey carried out among nearly 500 firms in February.
“The shrinking job market is the result of the sluggish world economy and tempered domestic growth,” said Yang Lin, director of the career guidance center of Beijing Technology and Business University.
New posts in many large state-owned enterprises have declined dramatically this year after economic reform or restructuring was performed in order to achieve efficiency, Yang added.
Out of 178,000 college graduates in Shanghai, 44.5 percent had signed up for employment as of May 10, while the figure for Beijing was only 33.6 percent at the beginning of May, according to government figures.
Chosen excerpts by Job Market Monitor
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 … Continue reading »
A record 6.99 million students – an increase of 190,000 compared to last year – will graduate from China’s higher education institutions this year. But graduate unemployment, a scourge in recent years, shows no sign of easing for the class of 2013. Local media in a number of Chinese regions have been declaring 2013 as … Continue reading »
The employment rate for graduates from polytechnics or vocational schools is more than 95 percent, higher than that for their college counterparts, according to a report by the Ministry of Education on middle-level vocational education. The message is such schools provide the right people with the right skills for enterprises and they meet the needs … Continue reading »
As the Spring Festival is coming to an end, graduate students may find it harder to get a desirable job than usual, as a recent survey shows that only 29 percent of students with master’s degrees have secured jobs, down from last year. A survey conducted from December last year to January 2013 by My … Continue reading »
The Chinese government today said it has created 12.02 million new jobs in the first 11 months of this year surpassing the goal of 9 million. The urban registered unemployment rate stood at 4.1 per cent at the end of September, below the annual target of 4.6 per cent, the Ministry of Human Resources and … Continue reading »