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China Parents Paying Jobless Offspring to be Children – Fortune

The full-time children trend in China has exploded as youth unemployment soars following three years of Beijing’s draconian ‘zero Covid’ policy


China may need to spend more on social services or cut outlays on other sectors to help lift consumption levels following the Covid-19 pandemic, which has made people more cautious on how they spend their money.
China's household spending is less than 40% of annual economic output, some 20 percentage points below the global average. This image shows people walking on Nanjing Pedestrian Road in Shanghai (Reuters).

 

Chinese parents are paying their unemployed adult offspring salaries to act like children, by doing simple chores and hanging out with mum and dad, Fortune reported.

On Chinese social media, the hashtags #FullTimeDaughter and #FullTimeSon have millions of views each and feature jobless ‘children’ doing household chores such as shopping, cooking and cleaning for their parents. In June, the unemployment rate for Chinese people aged 16 to 24 was a staggering 21.3%, the report went on.

Read the full story: Fortune

 

  • By Sean O’Meara

 

Also on AF:

China Reports Weak April Data, Record Youth Unemployment

China Unemployment Payouts Hit a Record $5.2bn in June

China Unemployment Situation Grave, Premier Li Warns – CNN

 

 

Sean O'Meara

Sean O'Meara is an Editor at Asia Financial. He has been a newspaper man for more than 30 years, working at local, regional and national titles in the UK as a writer, sub-editor, page designer and print editor. A football, cricket and rugby fan, he has a particular interest in sports finance.