Recent college grads in China are opting out of the workforce after not securing jobs they deem adequate. According to ‘Statista’ Chinese youth unemployment (ages 16 - 24) hit 21% in June 2023. That is nearly triple America’s youth unemployment, which is 7.5%.
The National Bureau of Statistics of China in 2022 reported 26 million newly enrolled students in higher education. At the current unemployment rate, this would result in at least 1.3 million of those students ending up unemployed.
As China becomes modernized, young citizens want a better quality of life. Resulting in this new generation of Chinese youth rejecting manual labor and low wages. This unexpected development endangers the seemingly stable Chinese economy and the country’s future as a solid world leader.
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