Altogether, 4.1 million students graduated this year, up 750K from last year.
However, only 22% of China's new jobs last year were for college grads. This was based on a study of 114 urban markets.
China's official unemployment rate is 4.1% for the first nine months of this year.
And, the demand for college grads was down 22-24% in 24 provinces and 15 major cities over last year.
The reason for not finding work according to one survey - 52% say of those holding bachelors said was a lack of social experience ( not sure what that means - connections?)
Still, the Chinese growing economy has no room for growth in its labor force? This puzzles me as well.
The answer appears to be in promoting small and medium sized companies who can in turn create more jobs says the Labor Science Research Institute.
Someone smarter than me can probably teach me why a growing economy in desperate need of managers with college degrees cannot accomodate all of its college grads.
And I thought China was the place to go if someone needed work. Maybe not.
What do you think?
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