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(Hosting-NewsWire.com, June 07, 2013 ) Boulder, CO -- China will be setting record numbers for graduates in coming years. These graduates are preparing to move into a job market that has not grown with the vast number of individuals who are finding their way through the school system of the country.
Seven million will be completing their studies of varying sectors, and turning their attention toward building up a career. China's market, however, is already slowing, and job prospects for many of the graduates are looking grim overall.
A hotel near one of Beijing's most prestigious schools, there are throngs of job seekers lined up, awaiting to speak with any recruiter about opportunities in fields such as software, information technology, and engineering firms.
An Tingting is one of the many looking for work. She is a 22-year-old recent graduate from the central Henan province, and she came to Beijing only months prior in order to take an IT training course.
“I have been looking for jobs the past two weeks and I think that it is indeed hard because I graduated from a vocational school, and so the level of my education is pretty low. Also, I did not study software in college, I studied education, so it is more difficult for me to find an IT job,” she said.
The seven million that recently graduated is not the only problem for the many students, but also the 200,000 that graduated last year that are still vying for work are a factor.
“Only 30 percent of graduates can sign a contract and be employed right away," explained Hu Xingdou, an economist at the Beijing Institute of Technology. "The majority of students have to continue to look for work or remain unemployed."
But graduates are not the only problem, as the growth simply cannot keep up. China felt nearly a decade of growth that reached double-digits each year. China is now struggling to even breach the 7% mark in recent years.
Hu Xingdou stated the largest problem is the unsustainable structure that China has followed for the last two decades, as they industrialized large disparities across the country.
“There are many places in China where graduate students are needed, but graduate students are not willing to go. For example private enterprises in China have a strong need for graduate students, but students prefer to go to state owned enterprises, government departments, public institutions, foreign companies and so forth,” Hu said.
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Source: EmailWire.Com
Source: EmailWire.com
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