Trouble at China´s labor market - Victor Shih

Victor Shih

Graduates have this year a hard time to find good jobs, even in a labor market that shows huge shortages in other parts. High quality jobs are hard to get in China, tells associate professor Victor Shih in the New York Times.

The New York Times:

Among the most worried are university graduates. This year, nearly 7.5 million people graduated from universities in China, a 3 percent increase over last year. 

“The difficulty of finding employment in 2015 is still relatively high,” said Zhang Feng, director of the career center of the Ministry of Education, according to an article on the ministry’s news site. “Both the central and local economies’ growth rates have entered the ‘new normal.’” 

Victor Shih, a political economist at the University of California, San Diego, said the slowdown exacerbated worrisome trends in the job market. 

“Highly paid professional jobs have been scarce for several years now,” he said, “and many young graduates have depended on their parents’ connections to obtain entry positions in the government or state-owned enterprises. The current downturn will hit graduates without strong connections or specialized skills.”

More in the New York Times.

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