Fresh Chinese graduates face struggle as economy slows
Beijing: Finding suitable employment could prove difficult for China’s fresh college graduates this year due to a slowing economy, the media reported on Monday
Zhang Jingxiu, executive director of Beijing-based employment consultancy Newjincin Research Institute, said the overall outlook for the job market was negative due to downward economic pressures, the China Daily reported.
This, combined with the obsession among recent graduates for high-paying jobs in first-tier cities and the competition offered by Chinese students returning from abroad, means that employment opportunities are drying up.
“Demand for talent shrank as the economy slowed,” said Zhang, adding, “We have also noticed slow growth in salaries across different cities since the second half of 2015.”
Wang Huiyao, director of the Centre for China and Globalisation, said domestic students might face further struggles as the government considers lifting the job cap for overseas students studying in China, which could even extend to fresh college graduates from abroad.
“Before, overseas students studying in China could not seek jobs or internships in China immediately after graduation, but this will soon be changed in Zhongguancun, a high-tech hub in Beijing,” Wang added.