Economists say young people seeking jobs in China face “the country’s most difficult employment market in generations and they need to brace themselves for tougher times ahead as the struggles will not disappear in the short term” as the worst is yet to come, according to a report by the South China Morning Post, which said youth unemployment is expected to rise further in July and August, when a record 11.58 million graduates leave the country’s universities.
Lu Feng, the director of Peking University’s China Macroeconomic Research Centre, was quoted as saying “the problems won’t just disappear in the short term, but will remain unsolvable for a while,” the report said, adding that Lu believed it could take two to three years until a better balance is achieved as the high number of graduates just compounds employment pressure linked to the lacklustre economic recovery. Regulatory crackdowns on private tutoring, real estate and the internet sectors had severely affected the employment prospects of young people, he added.
Read the full report: South China Morning Post.
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