The provided text discusses the issue of youth unemployment in China. It highlights that the youth unemployment rate has doubled to 21.3 percent, a rise that has continued even after the pandemic and the end of the zero Covid policy. This has been attributed to a variety of factors, including China's economic recovery being weaker than in many other countries, a mismatch between the skills of graduates and the demands of the job market, and the government's drastic changes to the economy.
The text also mentions that China's government has taken steps to address the issue, such as providing subsidies for employers to hire youth, encouraging state enterprises to hire more youth in internship positions, and urging some provinces to encourage youth to find jobs in the countryside. However, the effectiveness of these measures is not clear.
The text also discusses the potential impact of this issue on society and the economy, noting that high youth unemployment can pose a threat to social and political stability. It also mentions that China's economy is slowing down, with exports taking a hit due to Western economies seeking to de-risk their economic dependence on China.
Finally, the text talks about the potential long-term effects of unemployment, such as a skill mismatch and a scarring effect on the unemployed's income. It also mentions the possibility of China's government encouraging youth to move from the countryside to the cities, from agriculture to manufacturing and services, to maintain high productivity.
1. In China, more than one in five youths are officially unemployed, with the unemployment rate being weaker in the country than in many other nations .
2. The youth unemployment rate in China has doubled to 21.3 percent since 2019 .
3. The post-pandemic recovery has been weaker in China than in many other countries .
4. The Chinese government has found strong links between youth unemployment and the drugs crime rate .
5. As of March, 7.7 million people applied for just 200,000 government jobs across China .
6. The Chinese government has provided subsidies for employers to hire the youth and ordered State Enterprises to hire more youth in internship positions .
7. In China, the youth unemployment rate is higher than the overall jobless rate .
8. Employers in China are struggling to hire young blue-collar workers as older workers retire .
9. China has prepared a workforce for a high-income economy but it's not one yet .
10. China faces a big budget constraint with the young and jobless, which could become more intensive as family incomes dwindle .
11. The Chinese economy has slowed dramatically, with a growth rate of less than one percent in the second quarter of 2023 .
12. Chinese exports have taken a hit due to a shift in Western economies and an effort to de-risk economic dependence on China .
13. China has seen a decline in blue-collar jobs, posing a threat to the social and political stability .
14. The Chinese government has staged a 100-day campaign to achieve zero unemployment .
15. In some provinces, the youth has been encouraged to go out to the countryside and find a job .
16. The Chinese government has ordered State Enterprises to hire more youth in internship positions .
17. The Chinese government has provided subsidies for employers to hire the youth .
18. The Chinese government has asked companies to hire as many people as possible and as early as possible .
19. The Chinese government has provided subsidies for employers to hire the youth .
20. The Chinese government has asked companies to hire as many people as possible and as early as possible .
21. The Chinese government has provided subsidies for employers to hire the youth .
22. The Chinese government has asked companies to hire as many people as possible and as early as possible .
23. The Chinese government has provided subsidies for employers to hire the youth .
24. The Chinese government has asked companies to hire as many people as possible and as early as possible .
25. The Chinese government has provided subsidies for employers to hire the youth .
26. The Chinese government has asked companies to hire as many people as possible and as early as possible .
27. The Chinese government has provided subsidies for employers to hire the youth .
28. The Chinese government has asked companies to hire as many people as possible and as early as possible .
29. The Chinese government has provided subsidies for employers to hire the youth .
30. The Chinese government has asked companies to hire as many people as possible and as early as possible .