How China’s Economic Slowdown Is Affecting The Country’s Youth

The Chinese economic slowdown of the last few years has caused significant changes inside the world’s second largest economy. Going forward into 2019, the economic situation is expected to continue affecting the global economy as well, but in a more significant way than in previous years. When economies slow down, it is often the youth who take the hardest hit. With that in mind, how is China’s economic predicament affecting the country’s youth?

Recent graduates in China often find themselves working long hours for little pay. However, the slowdown has put much more pressure on young people living in the city. Many young people have found themselves out of a job recently, so the pressure to find work in a slowing economy has been exasperated. Furthermore, uncertainty over the trade war with the United States has spilled over onto the job market. Demand for staff in the December quarter was down 12% from one year earlier. To make matters worse, the competition for jobs among the unemployed youth has added to the concerns.

All of these issues, when combined, have had a few significant effects. Some recent graduates have even moved from larger (and wealthier) cities such as Beijing, opting to go to cities where there is less competition for jobs. Some other graduates are hoping that positions may be available after the Chinese New Year. The official unemployment rate in China is 4%, but many believe the exact figure is higher.

Written by  
5 years ago
Article Tags:
· · ·