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The Minister of Human Resources said on Saturday that China still faces structural employment problems, the overall employment pressure has not been relieved, and the economic slowdown is preparing the number of college graduates to reach a new high in 2024. The job market has gotten off to a good start this year. In particular, Wang Xiaoping, Minister of Human Resources, said that 32,000 job fairs have been held in the fields of artificial intelligence and big data.
The Minister of Human Resources said on Saturday that China still faces structural employment problems, the overall employment pressure has not been relieved, and the economic slowdown is preparing the number of college graduates to reach a new high in 2024. The job market has gotten off to a good start this year. In particular, Wang Xiaoping, Minister of Human Resources, said that 32,000 job fairs have been held in the fields of artificial intelligence and big data.
But overall indicators tend to underestimate the tensions in its massive job market, especially among young people, including the millions of college graduates seeking jobs every year.
More than a fifth of China’s roughly 100 million people aged 16 to 24 were unemployed in June 2023, the latest data before National Bureau of Statistics officials abruptly suspended the series of surveys.
China resumed publishing data in January, but now excludes college students and puts December’s youth unemployment rate at 14.9%.
But overall indicators tend to underestimate the tensions in its massive job market, especially among young people, including the millions of college graduates seeking jobs every year. More than a fifth of China’s roughly 100 million people aged 16 to 24 were unemployed in June 2023, the latest data before National Bureau of Statistics officials abruptly suspended the series of surveys. China resumed publishing data in January, but now excludes college students and puts December’s youth unemployment rate at 14.9%.
But a lack of skilled talent remains a hurdle for the industry. Wang said China needs to encourage young people to learn technical skills and work in factories in an effort to cultivate talent. This year, more than 12 million new jobs have been created in China’s cities and towns, and the surveyed urban unemployment rate is controlled at around 5.5%. Official data shows that 12.44 million new urban jobs were created last year, and the urban unemployment rate averaged 5.2%.
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