Written by Zhang Chen
Youth work situation. Source: little red book
The difficulties young people experience in the job market have gained more attention in recent years due to the acceleration of globalization and changes in economic structure. In many nations and areas, especially in rapidly developing emerging market economies like China and India, youth unemployment has become a serious issue. This challenge shows up in a variety of ways, including little career growth possibilities, poor quality jobs, and limited employment opportunities.
First, there are fewer jobs available overall as a result of the slowdown in global economic growth, the demise of traditional manufacturing, and the fall of low-skilled industries. Low-skilled employment have also been partially supplanted by the swift advancement of automation and artificial intelligence technologies. Nowadays, robots or software are replacing many occupations in the manufacturing and service industries, for example, making it more difficult for young people without specific skills to obtain employment. The pandemic has also made the state of the world economy more unpredictable, and many businesses have decided to cut expenses and hire fewer staff members, which makes it even harder for young people to find work.
Secondly, the modern economy has continuously improved the educational and skill requirements of job seekers, which makes some young people with low education or no higher education fall into the dilemma of "employment difficulty". For example, in China, now young people generally have bachelor's and master's degrees, and various jobs are limited. When hiring, many companies often require candidates to have a high educational background or specific technical abilities, which is a high threshold for young people who have just graduated or lack work experience.
Despite the increasing number of college graduates, a high degree does not necessarily guarantee quality job opportunities. There is a phenomenon of "degree devaluation" in the job market, in which some young people with high degrees are still unable to find jobs that meet their expectations but are forced to take low-paid jobs with little career development prospects. In this way, the advantage of academic qualifications gradually diminishes, and practical skills and experience become more important.
It is important that young people face enormous social and psychological pressure in the context of employment difficulties. Many struggle to find suitable jobs after graduation, causing them to delay living independently and even have to rely on their parents for financial support. This phenomenon is especially pronounced in some regions with slower economic development. In addition, a long period of fruitless job hunting can make young people feel frustrated and even lead to psychological problems such as anxiety and depression.
The government, educational institutions and enterprises should work together in partnership to resolve this phenomenon of young people's employment difficulties. The government should create more job opportunities by establishing policies that promote economic restructuring, encouraging innovation and entrepreneurship. Then, the educational institutions can enhance vocational education and training and offer them as alternatives to degrees where they can master practical skills and enhance their job competitiveness. Only then, perhaps, the companies will then be able to provide more opportunities for young people to gain experience and better integrate into the workplace through offering internships and training programs.
The youth unemployment situation is a significant concern for social stability and growth in addition to being an economic one, especially for China. In order to provide young people greater growth space and possibilities, the government, businesses, and educational institutions come together and create effective long-term policies that address entrepreneurship support, skill training, job channels, and other issues that will benefit the millions of currently unemployed youths.
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