[The Epoch Times, May 22, 2022](The Epoch Times reporters Lin Cenxin and Yi Ru interviewed and reported) The millennial generation is graduating from college and starting to enter the society, but what awaits them is the dilemma of unemployment after graduation . Expert analysis shows that a number of Chinese economic data are not good, the general environment is not conducive to their job hunting, and the involution will only worsen.
In the millennium year of 2000, the birth rate of children was very high. Official data shows that in 2022, the number of college graduates in China will be 10.76 million, an increase of 1.67 million year-on-year. More than 9.09 million college graduates across the country will graduate in 2021, an increase of 350,000 year-on-year, and 8.74 million college graduates in 2020, a year-on-year increase of 400,000.
According to the “21st Century Business Herald” report, Lu Feng, a professor at the National Development Research Institute of Peking University, said that the increase in the number of graduates is closely related to “postponing employment”. After graduation from technical secondary schools, they want to take college entrance examinations, and many people take postgraduate entrance examinations after graduation. , the number of people accumulates year by year, resulting in a possible peak in the number of new job seekers in 2022.
Depots break contracts and school enrollment frequently reflects the depression of the auto market
After the ideal car was revealed to have destroyed the enrollment of the school about graduating in 2022, Xiaopeng Motors was also exposed to the same situation. The topic of “Xpeng Motors was revealed to have destroyed about 20 fresh students” also rushed to Weibo on May 19. Hot search list.
Guangzhou senior student Wang said that he signed an employment agreement with Xiaopeng Motors through school recruitment last year, but in May this year, the company’s HR (human resources supervisor) said that it was unable to provide jobs due to business adjustments, and provided students with 5,000 yuan in compensation.
“Daily Economic News” reported that in early April, Xiaopeng Motors also reported a layoff plan. Some employees left a message on the recruitment social platform that the company’s departments are being adjusted, and the proportion of layoffs in some departments may reach 30%.
According to data released by the China Automobile Association, China’s national auto sales in April fell by 47.6% year-on-year and 47.1% month-on-month, and the cumulative sales in the first four months fell by 12.1% year-on-year.
Davy Jun Huang, an economist based in the United States, told The Epoch Times that the auto sales market in mainland China has been very sluggish recently. On the production side of electric vehicles, NIO, Ideal, Xiaopeng and other mid-to-high-end models have all been affected by the epidemic and have stopped and reduced production. On the sales side, many cities in the eastern coastal cities, where mid-to-high-end models are mainly sold, have been shut down. control and static management, causing store closures, affecting orders and deliveries.
Many industries are hit by the epidemic, youth unemployment rate hits record high
In addition, according to the recent data released by the National Bureau of Statistics of the Communist Party of China, the national urban unemployment rate in April was 6.1%, an increase of 0.3 percentage points from the previous month, setting a new high since the closure of Wuhan in 2020. Up 18.2%, which is only seen in history.
Huang said about a third of the country’s 290 million migrant workers had not returned to the cities where they were employed since the Chinese New Year in February, under China’s epidemic prevention and control measures. Employment in small and medium-sized enterprises has shrunk by about 30 percent, according to interviews with Chinese labor agencies by research firm J Capital Research.
He analyzed that the latest PMI data shows that China’s economy continues to decline. Since China’s individual industrial and commercial households account for two-thirds of the total market players, and 90% are concentrated in the service industry, with wholesale and retail, accommodation, catering and residential services and other formats Mainly, and these industries are precisely the industries that have been severely hit by the epidemic.
Based on the above situation, Huang said that the company’s revenue is in difficulty, there are insufficient employment opportunities, and layoffs have occurred. China has a record of more than 10 million college students graduating this year. The number of vacancies cannot meet the employment needs, and it is even more difficult for fresh graduates to find jobs. .
Peking University doctoral student earns 3,000 yuan as an urban management Wuhan University graduate
According to Netease News, state-owned enterprises and institutions expand their enrollment every year, but 90% of college students still cannot get into institutions. people with work experience.
At the same time, more and more college graduates are joining the postgraduate entrance examination army. In 2022, there will be 4.57 million applicants for master’s degree candidates nationwide, about 1.2 million enrollments, and three-quarters of the applicants can only accompany the candidates.
However, graduate students still face a narrow door to employment after graduation. Recently, Chaoyang District, Beijing announced the list of civil servants. Most of the civil servants to be recruited graduated from prestigious universities, and a city management law enforcement post in a street that has attracted much attention has hired a doctoral student in physics from Peking University.
Some netizens questioned, “A small urban management position attracts doctors from Peking University to participate. Has the involution reached this level?”
Mr. Liu, a business owner in a city in Hubei, told The Epoch Times, “In Wuhan, ordinary people have no interest in going to university. Only academic masters are interested in going to university. Because over the years, central enterprises and state-owned enterprises have admitted one (referring to the first one) Undergraduate universities admitted in batches, mostly referring to 211 schools), students from second and third universities, looking for jobs depends entirely on their social relationships and abilities.”
A business owner in Wuhan told The Epoch Times that Wuhan is the second-largest city in China in terms of the number of colleges and universities, with a large number of graduates every year, second only to Guangzhou. In Wuhan, it is not a big problem for undergraduates to find a job after graduation, but the salary is generally very low.
The business owner said that the most important thing is that the economic environment “doesn’t rise but falls.” Many small business owners he knows are closing down one after another. There is a very popular joke on the Internet this year, which is that the fresh graduates are applying for jobs in Wuhan. The HR asks what the expected salary is, and the answer is 6,000. The HR directly said: Are you here to apply for the boss?
On May 19, after Tencent announced that it would adjust the Tencent Sports business under PCG, comprehensive Lu media reported that Tencent’s new round of layoffs also involved a number of business groups, including cloud business and game business. 10% or so.
Relevant business adjustments have aroused criticism from netizens, and also caused Tencent founder Ma Huateng to spit bitterness in the circle of friends. He quoted a public account post and commented, “This description is too vivid: the way some netizens care about the economy is: Businesses can go bankrupt, but they can’t lay off employees; businesses can go bankrupt, but they can’t work overtime.”
Other Internet companies, including Alibaba, reported layoffs in March this year, and JD.com also recently made a new wave of slimming through layoffs.
Davy Jun Huang, an economist living in the United States, analyzed that the Beijing authorities have taken action to rectify the so-called technology companies in the past two years. These technology companies are also Internet application companies. These companies were seriously overvalued in the past, thinking that Internet applications are omnipotent and attract a lot of money. After arriving here, the university has also cultivated many majors in this field, but in the end, I suddenly found that these companies are actually mainly focusing on information and entertainment, and what China needs is real manufacturing. That kind of swarm cultivation method is actually putting the cart before the horse.
Coupled with the Sino-US trade war, the shortage of chips, and the lack of capital and talent support in the manufacturing industry, the overall economic structure and employment situation are very pessimistic, Huang said. This issue is now being dealt with by the Beijing authorities as a key task, but it may still be quite difficult to reverse the development in the short term.
Huang said, “And in the past, the era of making quick money by telling stories has changed the whole society’s thinking about work and employment. Many young people and even middle-aged people are reluctant to do specific manufacturing. Think about it. The development of recruiting, coupled with the traps of various listing and financing, also accelerated the involution of society.”
Responsible editor: Fang Ming