Why China Isn’t Providing Enough Jobs for Its Young 

Two things that weren’t mentioned but are important to understanding. 1 - China counts working only ONE hour per week as “employed” compared to 15 or more hours in other countries. If a similar criteria were applied in China, the youth unemployment rate would be significantly higher! 2 - China only counts urban unemployment. So encouraging young people to go to rural areas would simply remove them from the equation, whether actually employed or not. In other words, the stats can appear to improve even when no actual situational improvement occurs.

That's not a chinese problem, but a developing country problem globally wide.

In my experience as a foreigner in China, there's still many jobs available for young people, it's just that many of them consider these jobs unsuitable or the salary is too low for their level of education. So they'd rather wait for a better opportunity or do something that offers more freedom like a part time job.

Its a supply and demand issue. They told everyone to go get university degrees, but their economy is driven by low-paid manufacturing that university graduates dont want. Theres more university graduates than white collar jobs available.

Thats one of the biggest problem in a country with huge population like china and india, millions of students apply for a job with a vacancy of around 5-10k seats, or sometimes even just hundreds, and because of that competition gets very high among the students and many students fail their tests, resulting in unemployment.

When I was living in China, there is a massive shortage of blue collar workers and skilled technicians, and a huge surplus of white collar workers. There are many opportunities available but Chinese youth and families today consider them not worth the degree to pursue.

There are 2 caveats about unemployment data: On the upside, if people are finally looking for work, the unemployment figure ought to be higher as you increase the numerator more than the denominator On the downside, official data in China counts working 1 hour a week as employed

A few things missing here. 1) the unemployment figures do NOT include all rural areas. The true unemployment is likely a bit lower on a country level. 2) i have worked with rhe Chinese for 35 years, I still work with them on a daily basis. So many companies in China has headcount freeze. They dont replace laid off workers either. What does this mean? It means that so many companies don't see real improvement coming for quite some time. 3) it is normal that companies in China cut salaries for workers in bad times. Sounds normal? Well, percentage cuts in China can be extreme, I hear 30, 40, even 50%. 4) The most important one. Whatever you do, don't trust official Chinese GDP or unemployment numbers. They are always massaged. The situation is actually worse than official numbers indicate. 5) I have talked to Chinese who say that salaries for new hired have been pushed to rock bottom levels. Half of what salaries were 2 years ago, it's not enough to live on by far. Another person posted that he was in China and said that there are jobs but the Chinese don't want them, wait for better jobs. Just want to clarify that those are the jobs where salaries offered are half of what the same job paid 2 years ago and there's no way they can live on what the make. By a big margin.

The current Chinese youth generation is from the one child era, hence parents groom them very aggressively to finish college or above, so there shouldn’t be many youth in job market younger than 21. Because this is the mama body generation, they tend to avoid blue collar jobs thus fight for limited while collar positions. So, I think using 16-24 age group to calculate unemployment rate is misleading, 20-30 is more appropriate for Chinese demographics.

we need a more detailed breakdown, as most of young people between 16 to 24 would be in high school and university so of course they can't be employed.

An underreported problem is the countryside reforms that are pushing out older farmers and impoverishment of village collectives in order to make room for city dwellers to move out into the country. If experienced farmers are pushed away it will cause famine eventually like when Zimbabwe repossessed white farmers land and gave it to city Africans who didn't know how to farm.

That's why I love Bloomberg. I worked in the financial industry in Shanghai, China for three years, and came back after covid-19. Bloomberg is one of the few neutral media to report on China

How is it unusual for 16-24 yr olds to be unemployed? That's called being a student, of course they're unemployed. The rates are just as high in the US

Very informative

If you hear about unemployed youngs , welcome to Asia.

The reason why Chinese young people cannot find suitable jobs is that wage income is far less than living expenses, which is why experts currently recommend paying to work.

more business and companies is needed I guess I hope it gets better

Same situtation in UK and US!

one issue is Chinese youth all want the same jobs and not willing to compromise.

It’s only those being affected who have degrees. This especially true in the US and around the world. More college graduates, not enough jobs to fill them. We need to focus on skilled labor work.

India has similar challenges,may b the world need new economic model

Creating wealth and financial freedom isn't as tough as many people believe. Building wealth and remaining financially stable indefinitely is a lot easier with the appropriate information. Participating in financial programs and products is the only true approach to make a high income and remain affluent indefinitely......

Because everyone has a degree and none of the jobs need a degree

But it is even worse in many other countries namely US, European countries, India, etc in the prevailing hard global situations. 😢

Its not just happening in China its all over the world

It's concerning to see China's youth unemployment crisis escalating. The situation calls for deeper analysis of the factors contributing to this problem. This issue can have far-reaching consequences, affecting not just individuals but also the broader economy.

Please talk about India too.... Here the percentage is unemployed people is lot more...

Really funny how you talk about youth unemployment as it's an exclusive chinese problem...

"Civil servant examinations"? South Africa could never

Ya this is happening in the West as well - especially in the US.

how many countres doing better?

beverages sell still. jobs

Wait until GenAI gets better.

Due to the sluggish growth of the Chinese economy, enterprises are being cautious in hiring, despite this year having the highest number of college graduates.

And China is puzzled why the youngsters do not want to get married nor have children.

Problem is not “ not enough jobs” but “ not enough pay”😮

In my country which is Cambodia, if you can speak just Chinese and English, you can earn close to or even more than $1,000 a month. $1,000 dollar in my country can get you a lot of think from a place to live, personal expenses and even traveling.

Is there age of 35 anxiety outside China, many of young people hardly build their career paths after 35 years old

🎶Go to college! A university! Get a real job! That's what they said to me! Gonna get by and just do my best! 🎵

At the same time they complain there’s is not enough young people working due to depopulation? Can someone explain?

I know a lot of upper 20s and 30s in the US without jobs so.

Same every where

intro song name please

name one country can provide enough jobs for their youth

xhina now experiencing what their bullied smaller countries have been going through while xhina takes advantage of the poverty of these countries: Tonga Samoa, sri lanka, etc.

I keep hearing about this "catastrophic demographic collapse" in China, yet here they are reporting youth unemployment. It doesn't add up.

Companies do it because it's cheaper for them to have fewer workers. The only solution is a shorter day or work week, lower retirement ages, more vacation, and holiday pay.

Invest in 🇮🇳 because we have democracy and also fastest growing economy in the world. 🎉

Truck load of China Chinese and foreigners entering Singapore labor market. Many locals has being deprive of work, increment and promotion. This foreigners lower their salaries expectation causes a similar situation in international trade call the dumping. Many sectors relies on this cheap labor which pushes out many locals without jobs. As more foreigners entering, the demand of rental market has also pushes the rent in average up to 50%. Worse, they start to complain on the high cost of living which mainly caused by them. They manage to get the local print and online media to influence public on the possibility of legislate rental control. The local in Singapore has being deprive so much and manipulated by the foreigners. This situation will have to stop else sooner or later this invasive species left nothing but major social issue in this small island.

There are a shortage of workers in China's assembly lines, there is enough job, just not the ones University students want. This happens as an economy transitions from a low-mid manufacturing economy to a high tech manufacturing + service economy

One basis concept about economics: we have a trade-off between infation and unemployment. China is experiencing defation right now, therefore high unemployment. Conversly, high inflatio in the US, lowest unemployment in decades as joe biden prides his administration in.

Govt jobs vs others.. Govt expenditure should be inclusive in order to cater the needs of youth.. Unemployed youth if don't get jobs then it is upto the govt to decide whether they want to promote terror industry or not.

some Chinese companies won't hire people older than 35

Not true. 2nd and 3rd tier cities have lots of jobs but most youths prefer to go to first tier cities.

There were hips of jobs in the market. The young just ignore those jobs because their family invested too much in their education and their parents also won't accept a Phd to work in a plumbing company. But there are only certain positions for highly educated group, in this case young generation pays the prices for "Education as Business“ （started in year 2001）

I still think our company to terminate the Bloomberg terminal was a right decision.

But...which country does ??

One example of unsustainable progress and target. 2much2fast2soon economy

Let's beat the record for most video reupload attempts in 1 day 😂

I am a college teacher and I am astounded by how clueless some young people are about the future. They thought they could land a job easily after graduation just because they have a college degree. I have a neighbor who told me he would not send his children to university for a degree, instead, go to vocational school to acquire useful skills. I have a friend who does not have a college degree but a certificate of competency in piping inspection (or something like that) which earn him a job right after he finished his training.

They can employ the youth building roads in Pakistan and dig for rare earth minerals in Afghanistan, or they can move to Singapore and take the jobs of the Bangladeshis. Have a nice day. The youth there are hard workers, sorry for them.

Nobody seems to want to talk about India's high unemployment rate for a population keeps on growing, but they all cry about China's agrarian population having a decline in population as living standards go up.

How about in USA I wonder does USA society ang economy is sound?

The reason is that China currently holds a significant amount of US treasury bonds, and it is crucial for them to decrease their holdings in order to address this problem effectively.

There are farmlands that need labor lol

Times 100!!! That's more likely the real number or even higher

So long there is no foreign investors dont even think of economy growths with unemployment issues can be overcome no joke. Next the China currrency RMB will be weakened further.

Its 25% in India

I thought there were plenty of job openings at the wet markets.

Among those 16-24.. most of the 16-22 are still in school..

I think there is a lot of bad-mouthing here. If the economy on the whole is really that bad, just look at the massive movement and spending during the big holiday sessions.

Why is it okay for young Americans to support boycotting Israel, but not China?? o_O

The companies in China should improve the fringe benefit for the labours, but they wouldn't do that.

The accent of the narrator is so off...Is this srsly Bloomberg stuff?

China is failing to overcome the middle income trap. This is the reason. It's very difficult to overcome it.

China graduates 2023 - 11.58 million India graduates 2023 - 6.5 million China youth unemployment - 21.3% India youth unemployment - 23.4% Where are our youth when the total population has already surpassed china? India total graduates are half the number of graduates of China? Why this large difference?

Now some of these ‘kids’ are getting paid by their parents to act like their child? WHAT??? 🤷‍♀️

If you notice the commenter keeps saying less income - not no income. The jobs are there they just don’t want them because they think its below their social class.

It really depends on how it's calculated. A lot of youth are focused on education and not working.

I think the working culture in China is desperate

It is very normal to see people now keep talking about unemployment. I just wonder why nobody on the internet mentions the fact that the labor force in China has dramatically increased in number, because more females have dropped the housewife strereotype to join the labor market (especially in economical and financial fields). They have chosen to join the competition. It is wrose to be a man in the modern China than in the past when there were just some males who competed for some jobs.

To obtain financial freedom, one must either be a business owner, an investor or both, generating passive income, particularly on a weekly and monthly basis. That's the key to living a financially stable life. This trick has never failed. I pray that anyone who reads this will be successful in life and put this basis to work and practice. Jessica Darrell have been a great manager, mentor and guide. Her support and advice has helped shaped my crypto trading career.

there are actually jobs available, but young people don't want to work on those, everyone wants office work rather than labour, farming or factory

what about America and eu?

Its crackdown on his biggest and brightest tech companies is backfring on them.

This video explained nothing about "why" ....

CCP to youth , your job is to wait until you have a job so not unemployed

Don't marry Never have kids

Maybe the 9-9-6 could be reduced to allow for more employment.

ha ha ha😂😂😂 Are you guys pushing the "China will soon collapse", "China will have a civil war and break apart" bullcrap fairy tale again. Isnt 45 years of the same tire tune enough?

When China develops, they worry that China is a threat. When China collapses, they worry that China is a threat. When China is doing nothing, they worry that China is a threat.People watching these news are dominated by these worries and fears every day, but in fact life is business as usual.

With pride and saving face culture, these college educated people will prefer not to have a job

I remember some unstable geniuses say China's population decline is a problem?

一般服务类，技工类其实有不少

They have the great CCP to thank for that. Well done.

They want to be youruber or tiktoker , easy money😂😂😂😂

They keep having children

Everybody suffers recently.

The unemployed youth should just go work for the socialist government. I thought the ambition of socialism was to have 0% unemployment.

what a waste of talents! Please come to Singapore. We need more foreign talents for SG Economy.