Chinese Graduates’ First Job Is Homelessness; 10 Million Can’t Find Work, Sleeping at Train Stations
Summary
TLDRThis 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
😢 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.
📈 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.
😥 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.
🏭 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.
Mindmap
Keywords
💡Job Market
💡Unemployment
💡Lodging
💡College Graduates
💡Vagrant
💡Recruitment Fairs
💡Factory Jobs
💡Gig Economy
💡Layoffs
💡Underemployment
💡Social Unrest
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]
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