Chinese Graduates’ First Job Is Homelessness; 10 Million Can’t Find Work, Sleeping at Train Stations

Summary

This video script highlights the dire job market in China, where millions of graduates face unemployment. It showcases the struggles of young workers, including those sleeping on the streets and recent graduates forced into low-end jobs. The script also touches on the government's efforts to create jobs and the societal implications of prolonged unemployment, including potential social unrest.

Takeaways

• 😢 Many workers in China are struggling, with some resorting to sleeping on the streets due to financial pressures or lack of affordable housing.
• 🎓 Recent college graduates are facing a tough job market, with some unable to find employment and ending up homeless.
• 📉 The job market has significantly worsened, with a drastic reduction in interview calls and job offers compared to previous years.
• 🏙️ Larger cities like Beijing are not offering better job opportunities, with high rents and limited suitable job availability.
• 📈 The competition for jobs is intense, with many positions requiring high skills but offering low pay, leading to a mismatch in job expectations and reality.
• 🏭 A significant number of university graduates are taking up jobs in low-end manufacturing or service sectors, indicating a job market that doesn't align with their education level.
• 📊 Over half of the 2024 graduates are struggling to find jobs, highlighting a widespread issue in the Chinese job market.
• 🏢 Large-scale layoffs in various sectors, including tech and automotive, are adding to the unemployment crisis.
• 👨‍🎓 The government's focus on developing new industries like AI and robotics is not providing immediate relief for the current job market, leaving many graduates without opportunities.
• 🚀 The gig economy is growing as a survival strategy for the unemployed, but it also faces issues of labor oversupply and market saturation.

Q & A

What is the situation of workers sleeping on the streets and train stations in China as described in the script?

The script describes a heartbreaking scene where workers, including recent college graduates, are sleeping on the ground without proper bedding due to financial struggles or the pressures of life. Some are recent graduates who are unable to find jobs and are now facing a harsh reality different from their previously carefree dorm life.

How has the job market changed for recent graduates from the previous year to the current year mentioned in the script?

The job market has significantly deteriorated. Last year, the script's narrator received multiple interview calls daily after posting their resume online, but this year, it has almost disappeared into a black hole, with only one interview call received in 10 days, and no finalized job offers.

What are the challenges faced by college graduates in finding suitable jobs according to the script?

The script highlights that college graduates face a bleak job market with few suitable job opportunities. They often have to settle for jobs with low pay and high requirements, such as live stream host, customer service, or sales positions. Even with a degree, they struggle to find work that matches their education and skills.

Why are some graduates turning to bigger cities like Beijing in search of better job opportunities?

Despite the belief that bigger cities might offer better job prospects, the script reveals that the situation in Beijing is even worse, with high rents and a scarcity of suitable jobs, leaving graduates in a difficult position to survive, let alone thrive.

What is the impact of the job market on the value of degrees as mentioned in the script?

The script suggests that degrees are becoming less valuable. Even graduates from top universities face challenges in finding suitable work, and many end up in jobs that do not require their level of education, indicating a job market that does not value or utilize their qualifications effectively.

How does the script describe the experience of graduates who are unable to find jobs and return home?

The script describes the experience as one of disappointment and struggle. Graduates who return home often have to rely on family support, as they are unable to find jobs and sustain themselves financially. This situation is further complicated by the pressure to find stable employment to repay their parents for their upbringing.

What is the role of the government and universities in addressing the unemployment issue as per the script?

The script indicates that the Chinese government is urging local governments to create more jobs, while universities are under pressure to report favorable employment statistics, even if they have to cut corners. This suggests a systemic issue where the actual unemployment numbers might be worse than reported.

How does the script portray the situation of graduates working in jobs beneath their education level?

The script portrays a grim situation where a significant number of graduates, estimated at around 25%, are working in jobs that do not require their level of education, such as factory jobs or service roles. This highlights a job market mismatch and a waste of talent and resources.

What are the potential social implications of the ongoing unemployment crisis as mentioned in the script?

The script suggests that the ongoing unemployment crisis could lead to social unrest if not addressed. The high unemployment rate is not just a crisis for young people but also affects those who have been in the workforce for years, leading to a potential decline in labor force participation and economic growth.

How is the gig economy featured in the script in relation to the job market situation?

The script mentions that the gig economy is rapidly expanding in China, with over 200 million people in flexible employment. However, it also points out issues such as labor oversupply and warnings from cities against becoming ride-hailing drivers, indicating that the gig economy is not a panacea for the job market crisis.

What unconventional professions are some graduates turning to according to the script?

The script highlights that some graduates are turning to unconventional professions such as professional pig caretakers, shepherds, and shroud makers in the funeral services industry. These choices reflect the desperation and creativity in the face of a challenging job market.

Outlines

00:00

😢 Struggling Graduates and the Harsh Job Market in China

The video script describes a distressing scene of Chinese workers and recent graduates sleeping on the streets due to financial struggles or unemployment. It highlights the difficulty of finding jobs, especially for those without connections to top universities. The script includes personal accounts of graduates who are unable to find suitable work, leading to a sense of hopelessness and the realization that degrees are losing their value. The job market is portrayed as bleak, with many graduates settling for low-paying jobs that do not match their qualifications, and the government is shown as struggling to address the issue, leading to potential social unrest.

05:02

📈 Overqualification and Underemployment Among Chinese Graduates

This paragraph delves into the phenomenon of overqualification among Chinese university graduates, with a significant number working in jobs beneath their education level. It discusses the high unemployment rates and the trend of graduates taking up low-end manufacturing or service jobs. The script mentions specific cases, such as a recruitment event where a company sought PhD holders for general labor positions at a low salary, indicating a devaluation of academic degrees. The paragraph also touches on the gig economy's growth and the challenges it faces, including labor oversupply and the government's push for job creation in narrow fields like AI and robotics.

10:04

😥 Layoffs and the Shift to Unconventional Professions

The script narrates the stories of individuals who have been laid off or are facing unemployment, leading them to unconventional professions. It discusses the government's approach of prioritizing younger workers, which has resulted in layoffs of older employees. The paragraph includes examples of companies like Honda that have initiated aggressive layoffs to cut costs. Additionally, it mentions the rise of individuals turning to jobs like pig caretaking or funeral services due to the stagnant job market. The paragraph concludes with a discussion on the potential long-term impacts of high unemployment rates on China's labor force participation and economic growth.

15:05

🏭 Layoffs in the Auto Industry and Government's Focus on New Industries

This paragraph focuses on the layoffs in the automotive industry, particularly at Honda's joint ventures in China, where thousands of employees have been let go. It discusses the company's strategy to reduce labor costs and production capacity due to market downturns. The script also addresses the Chinese government's efforts to develop new productive forces, primarily in AI and robotics, which may not provide immediate solutions for the current employment crisis. Critics argue that this focus could lead to weakened demand in other sectors and a trapped generation of highly educated young people who are struggling to find jobs.

Keywords

💡Job Market

The job market refers to the system of labor supply and demand in a particular area or country. In the video, the job market is depicted as 'bleak' and 'unreal,' indicating a challenging environment for job seekers, especially recent graduates. The script mentions a significant decrease in interview calls and job offers, illustrating the competitive and difficult nature of the current job market.

💡Unemployment

Unemployment refers to the state of being without a job and actively seeking work. The video script highlights the issue of unemployment, particularly among recent college graduates who are unable to find suitable employment, leading to some resorting to sleeping on the streets or taking any available job, even if it's below their skill level.

💡Lodging

Lodging in this context refers to the accommodation or shelter that individuals seek. The script mentions workers saving money on lodging, which could imply the high cost of living and housing in certain areas, forcing individuals to sleep on the streets or in inadequate conditions.

💡College Graduates

College graduates are individuals who have completed their studies at a university or college. The video script discusses the struggles of recent college graduates who, despite their education, are unable to find jobs, facing a harsh reality that contrasts with their previously carefree lives in dormitories.

💡Vagrant

A vagrant is a person without a settled home, often living on the streets. The video uses the term to describe some college graduates who, unable to find jobs, end up living as vagrants, a stark contrast to their expectations post-graduation.

💡Recruitment Fairs

Recruitment fairs are events where employers gather to recruit potential employees. The script describes these fairs as being extremely crowded, indicating the high demand for jobs and the pressure on graduates to secure employment.

💡Factory Jobs

Factory jobs refer to positions in manufacturing or production facilities. The video mentions that many university graduates, unable to find jobs in their fields, are turning to factory jobs, which may not align with their educational background but offer immediate employment.

💡Gig Economy

The gig economy consists of freelance or temporary work as opposed to permanent jobs. The script notes the rapid expansion of the gig economy in China, with many turning to flexible employment as a means to survive, reflecting a shift in the labor market and the challenges faced by workers.

💡Layoffs

Layoffs refer to the termination of employment for a group of workers. The video discusses layoffs in various sectors, including the automotive industry, as companies cut costs and adjust to market changes, contributing to the overall employment crisis.

💡Underemployment

Underemployment occurs when a worker is employed but not fully utilized, often in a job that does not match their skills or education. The script illustrates underemployment through examples of highly educated individuals, such as PhD holders, taking low-skilled or low-paying jobs.

💡Social Unrest

Social unrest refers to public discontent and disorder due to various grievances. The video suggests that the persistently high unemployment rate could lead to social unrest, indicating the potential broader societal impacts of the job market crisis.

Highlights

Workers in China sleep on the streets due to financial struggles or high living costs.

Recent college graduates face difficulty finding jobs, leading to homelessness.

The job market is described as 'unreal' and 'terrifying' with a significant decrease in interview calls.

The expectation of success post-graduation is juxtaposed with the reality of job scarcity.

Bigger cities like Beijing offer no significant advantage in the job market.

High job requirements and low pay are common, even for positions in big internet companies.

The value of degrees is decreasing, with many graduates working in jobs below their education level.

Economic pressures lead some graduates to take up low-end manufacturing or service jobs.

The Chinese government reports 11.8 million university graduates entering the job market in 2024.

Job fairs are crowded, with graduates struggling to find employment.

Unemployment among recent graduates could lead to social unrest.

Universities are accused of inflating employment statistics to mask the severity of unemployment.

The gig economy is growing, but faces issues of labor oversupply.

Layoffs are not limited to the young; experienced workers are also affected.

The government's focus on AI and Robotics may be neglecting other sectors, contributing to unemployment.

The service sector, a last resort for many, is also struggling post-regulatory crackdowns.

The potential for a permanent decline in China's labor force participation and economic growth is discussed.

Transcripts

this is a scene of the streets and train

stations in China during the early

morning hours many workers trying to

save money on lodging or simply

struggling with the pressures of Life

are sleeping on the ground from the

video you can see that some don't even

have blankets and they're lying on

nothing more than a thin mat it's a

heartbreaking site some of them are

recent college graduates who couldn't

find jobs they used to live Carefree in

their dorms thinking that after

graduation they'd be on the path to

success little that they know their

first job would be as a

vagrant the job market this year is

unreal it's honestly terrifying last

year I put my resume online and got

phone calls for interviews every day but

this year after posting my resume it

disappeared into a black hole in 10 days

I only received one call for an

interview can you believe that last year

within 10 days I would have received

five or six offers this year just one

call and we didn't even finalize

anything oh my God this is what the job

Market looks like this year this young

woman from Ching da who graduated last

year says the job market across the

country is Bleak I thought it might be

better in bigger cities now I'm in

Beijing I graduated in 2023 with a

degree in marketing from an average

University after graduation I spent the

first half of the Year looking for work

but I couldn't find anything suitable

some people online suggested I tried the

bigger cities I thought the same that

shind DA's job market might not be great

and that I'd have better chances in

Beijing sh high or Guang Joo but after

coming to Beijing I realized that the

situation here is even worse the pay

isn't much better than in Shing da but

the rent is outrageous I can barely

survive and there are very few jobs

available big internet companies and

public sector jobs were filled during

campus recruitment leaving only

positions like live stream host customer

service or sales and the job

requirements are incredibly high they

expect you to be skilled in everything

but the pay is incredibly low I used to

think it was just chinged out but now I

realize this is happening across the

whole country before graduating I was

full of Hope thinking I'd find a good

job and earn enough to repay my parents

for raising me but in reality it's

almost impossible to find a decent job

especially for regular University

students like us if you didn't attend a

top university whether you graduated

from a regular 4-year program or a

vocational school it's really tough out

there some of my friends went through

the struggle of getting into a regular

graduate school only to realize it's

still hard to find work after graduation

degrees are becoming less valuable I

used to see online jokes about young

people trying to fix the workplace but

now in this job market many young people

can't even get their foot in the door as

harsh as it sounds this is the reality

growing up my parents always told me

that studying hard was the only way to

succeed and that knowledge would change

my fate back in the 1990s or early 2000s

there were many opportunities but now

it's much harsher this year 11.8 million

University graduates will be entering

the job market and many will face

unemployment Yen Yen who works in

Shanghai posted a video online venting

about how hard it is for recent

graduates to find a job this year she

thinks her brother's experience is

typical my brother and his three

doormates all couldn't find jobs and

went home some are preparing for civil

service exams or graduate school

entrance exams her brother is one of

this year's fresh graduates after

finishing his internship he returned to

school to write his thesis and earned

his diploma but by the time he left

school at the the end of July he still

hadn't found a job he sent out many

resumés while still in school but no one

responded his major is software

development and despite applying to

several software companies he couldn't

get any replies instead real estate

sales jobs were recruiting him and his

fellow graduates in droves in the end

Yen Yen said his brother had no choice

but to come to her for help the family

of five rents a two-bedroom apartment so

her brother is sleeping in the living

room until he can find a job and get his

own place he only has about 3 ,000 un

left without his sister's help he

wouldn't be able to last even a month in

Shanghai without work according to the

Chinese government 11.8 million students

will graduate from universities in China

in 2024 setting a new record a recent

report by a major recruitment platform

showed that more than half of the 2024

graduates are struggling to find jobs

this year the busiest places during

graduation season aren't at corporate

recruitment fairs but outside Factory

Gates see how hard it is for University

students to find jobs these days right

now we're at an elite 211 University in

Shion look at this line it starts over

there and stretches all the way here

there are just too many people our event

has been going on for 2 or 3 hours we're

still here helping students with resume

planning and interview coaching where

huge crowds gather and here's the scene

from The Joint Job Fair held by five

universities in Jen Province it's packed

with people shoulder-to-shoulder this is

a famous job fair the main

characteristic crowds look at the Jing

university job fair there are even more

people than there were during last

year's fall recruitment in that long

line you saw earlier it's only for those

from outside the university over here is

a line for current students it's just as

crowded you can't even see where the

line ends in comparison the line for

Outsiders is smaller this is the first

time I felt the pressure of job hunting

so directly outside the factories the

recruitment lines are just as long as at

University job fairs with jobs so hard

to come by many University graduates

have started working in low-end

manufacturing or service jobs many

bachelor's degree holders unable to find

suitable work have had to settle for

factory jobs doing things like screwing

in bolts according to Columbia

University sociologist Yu it's estimated

that around 25% of Chinese University

graduates aged 23 to 35 are working in

jobs that are beneath their education

level today's wage is 25 un an hour look

at how many people have shown up as soon

as the pay increases the factories are

flooded with people they never have

trouble finding workers so many young

people are here all waiting for

interviews I couldn't find the job again

today it's just too hard finding work is

nearly impossible these days I've been

unemployed for more than 2 months

haven't worked a single day and I've

been wandering the streets with the Grim

employment Outlook some experts are

warning that if the unemployment issue

continues to worsen social unrest may be

inevitable the Chinese authorities are

urging local governments to find ways to

create more jobs a university professor

in China told the voice of America that

even veteran professors are being told

to help students find jobs but many

teachers feel powerless as they can't

address the root problem as a result

universities are cutting Corners when

they report employment statistics so

even the dire numbers we see now have

been adjusted the real numbers are

likely even worse a blogger from qu who

was born in the'80s known as Nori posted

a video of herself crying in the street

saying that life has become too

difficult she's a University graduate

and has been unemployed for over a year

she's been surviving on short-term day

jobs she said I can't keep going like

this no matter how hard I try I can't

escape poverty no matter how hard I work

I can't get out of this lowest level of

society how am I supposed to live it's

so hard to survive in today's world I'm

juggling several part-time jobs but but

the pay still isn't enough to cover my

family's expenses every day I wake up

thinking about my mortgage and car loan

and then there's the cost of raising my

child the household bills my mind is

constantly thinking about how to make

money it's exhausting and I feel like I

just can't keep going another blogger

also struggling with the pressures of

adulthood posted it feels like my life

is over it's my sixth month of

unemployment and I feel like I've lost

myself my body is getting weaker and

weaker every day all I want to do is ly

bed play on the phone or game I've lost

interest in everything I don't want to

leave the house anymore I don't know

when it happened but that girl who used

to love smiling and dressing up is gone

now when I look in the mirror I don't

see any hope in my eyes recently a news

story vividly Illustrated the difficult

employment situation in China the report

came from the 2024 harabin D xang Talent

week recruitment event organized by the

halong J provincial government the event

aimed to promote employment across all

EC memic disciplines and degree levels

over 30,000 people attended at a recent

recruitment event the job hosting by

harabin fuang Automotive Parts Company

Limited caught significant public

attention the job posting was for 20

general labor positions with no

restrictions on professional background

but requiring a PhD for a monthly salary

of only 35 to 5,000 yen this prompted an

outpouring of reactions from nens some

commented a PhD earning just 3500 un per

per month that's terrifying who can

survive on such a low wage after

deducting social insurance and housing

funds you'll take home at most 2,000

you'll end up Starving in

harabin others pointed out having phds

work in an auto parts factory is a waste

of talent it's possible that the factory

is aware that many University graduates

will apply so they raised the education

requirement to prevent a flood of

applications but even then you'll still

see a ton of PhD holders applying one

Edison remarked academic degree are

becoming increasingly devalued these

days phds professors and academicians

are everywhere at our school even the

security guards need a master's degree

and the monthly salary is only 2500 Yen

this isn't without precedent in July of

last year Shandong University made

headlines for hiring two Master's

graduates as dormatory managers in

November West China second University

Hospital in chungu hired 34 nurses all

with Master's or doctoral degrees the

same month Citron vocational College of

Information Technology recruited

security officers stipulating a master's

degree as the minimum requirement then

in December Shanghai jaon University

security department offered a position

requiring a master's degree with a

monthly salary of only 1,800 un sparking

outrage

online this past March taian Normal

University in shansi required PhD

lecturers to be reassigned to Logistics

and security roles if they didn't

receive promotions within 5 years this m

is the Harin Auto Parts factories

recruitment of PhD holders for general

labor last year master's degrees were

sufficient this year phds are needed it

seems that not only have bachelor's

degrees lost their value but now even

master's degrees are losing theirs based

on this trend the jobs requiring phds

this year might require post-doctoral

qualifications next year psychology

Professor ju Chang has suggested that

China as the largest producer of phds

and master's degrees in the world has

fostered widespread unemployment and job

mismatches for graduates with such

difficulties for PhD and Master's

graduates the flood of nearly 12 million

bachelor's graduates entering the job

market this season will inevitably Place

enormous pressure on China's labor

market this could become a ticking Time

Bomb threatening social stability and

the Chinese Communist parties hold on

power a 32-year-old blogger from Guang

Joe ha a Jun left the education industry

in August last year after the Chinese

government cracked down on the tutoring

sector she then became an unemployment

influencer by sharing her personal

struggles with long-term unemployment on

social media and offering career advice

to her followers this became a second

career she had never imagined now she

has 8,400 followers on her platform and

earns around 5,000 yen about $700 per

month by posting videos selling ads

offering private consultations and

selling handmade crafts at Street stalls

ha Ain said I believe that fre

freelancing will become the norm in the

future even for those who stay in the

workforce freelancing skills like

driving will become a necessary backup

currently China's gig economy is rapidly

expanding with over 200 million people

now in flexible employment accounting

for 14.3% of the national Workforce this

figure is growing by 8% annually however

the gig economy is also facing issues of

Labor over Supply and more than a dozen

cities have issued warnings this year

urging unemployed iens not to become

ride hailing drivers in their struggle

to survive many young people are turning

to unconventional professions such as

this University graduate with a degree

in Chinese language and literature who

became a professional Pig caretaker I

stumbled upon this job by accident and

have been doing it for 2 years now I

really like this field the monthly

salary is around 5,000 unen and my work

involves feeding the pigs taking care of

their health and assisting with

farrowing others have opted to return

home and become Shepherds still others

have chosen to enter the funeral

services industry with some working as

shroud makers earning 14,000 Yen per

month working 5 days a week with

weekends off the only downside to the

job they're not allowed to laugh while

working aside from that there are no

drawbacks while the job market remains

stagnant the wave of layoffs continues

unabated the persistently high

unemployment rate is no longer just a

crisis for young people those who have

been in the workplace for years are also

feeling the impact

Mia an employee at an internet company

in Shenzhen told Voice of America we

received notices or official documents

from the government stating how many

University graduates will be entering

the job market large companies HR

departments are told to lay off a

certain proportion of older employees to

free up positions for these new

graduates Luca a career Planner on a

Chinese social media platform added the

government stance is clear save the

young sacrifice the middle-aged this

means that the wave of layoff will

continue the financial sector and white

collar industries have seen widespread

layoffs recently with companies like

Tesla IBM and bite D also cutting staff

this could be linked to government

pressure to prioritize hiring younger

workers Honda's two joint venture plants

in China began a wave of layoffs

starting in May

2023 according to Chinese media Honda's

approach to reducing labor costs and

production capacity is considered the

most aggressive among car manufacturers

in the country

Honda operates two joint ventures in

China GAC Honda and Dong Fang Honda in

December 2023 GAC Honda laid off 900

employees the first layoffs in the

plant's 25-year history in May 2024 a

second wave of cuts took place resulting

in more than 2,000 employees being let

go report suggests that Honda plans to

cut another 3,000 employees from its

China operations in fiscal year

2024 using layoffs and natural attrition

with GAC Honda spearheading the cuts

dong Fang Honda also has its own layoff

plans which are expected to expand both

GAC Honda and Dong fun Honda have

primarily used voluntary resignation as

the method for these large-scale layoffs

a dong Fong Honda employee confirmed

that nearly 2,000 voluntary resignation

spots were made available mostly

targeting assembly line workers the

compensation package included a

severance pay formula of n plus 3 year

of Service Plus two-month salary plus a

one-month bonus due to the generous

compensation some employees eagerly

sought to be included in the layoffs and

since late August many have left in

batches dong Fang Honda responded to

inquiries by stating that this labor

optimization was intended to improve

operational efficiency and accelerate

strategic transformation in reality the

layoffs are driven by Honda's plans to

cut 30% of its fuel vehicle production

in China amid the market downturn

as the employment crisis deepens the

Chinese government is focusing on

developing new productive forces but

this is limited to narrow Fields like

artificial intelligence and Robotics

this policy focus is one of the reasons

why young people are finding it hard to

secure jobs critics argue that this

approach could lead to weakened demand

in other sectors trapping this

generation of Highly Educated young

people in a jobless struggle many of

them graduated after the last economic

boom but haven't had time to Res skill

for emerging Industries making their

situation particularly unfair commenting

on China's employment situation Chang

hung Yen a professor of international

trade at Chuli University of Technology

in Taipei told the voice of America the

unemployment rate will increase on one

hand this shows that China's key

Industries have not yet recovered on the

other hand the urban economy's ability

to absorb unemployed workers especially

young people has not been restored an

economist for Societe General's greater

China division linu Chong noted that

although young people are now more

inclined to work in the service sector

to survive this industry hasn't yet

recovered from the regulatory crackdowns

that began in

2021 if this trend continues it could

become a structural problem leading to a

permanent decline in China's labor force

participation and potential growth

[Music]