Article written by Clement Tan, via https://www.cnbc.com on 29 May 2023
China’s young face the prospect of dimmer economic gains amid record youth unemployment in the world’s second-largest economy.
“The expansion of college education in the late 1990s created this huge influx of college graduates, but there is a misalignment between demand and supply of high skilled workers.
“Increasingly, college graduates are taking up positions that are not commensurate with their training and credentials to avoid unemployment,” Lu told CNBC.
China’s young face the prospect of dimmer economic gains amid record youth unemployment in the world’s second-largest economy.
“But the plan was for China’s economy to transform from labor-intensive industry to more technological, with a strong service-oriented, knowledge economy,” Yeung added.