China's youth unemployment rate a state secret? "Hardest Job Hunting Season Ever" For fresh graduates, a total of 11.58 million people graduated from universities across the country this year, the number hitting a record high. In addition, China is in the midst of a historic capitalist economic crisis, and the deepening of the Cold War situation has also severely damaged China's industrial upgrading plan. Therefore, employment pressure is extremely high, and this year (once again) is called "the most difficult season in history to find a job." . The irony is that since 2020, every year has been "the most difficult job hunting quarter in history". The fundamental reason is that the Chinese economy in crisis cannot provide enough jobs, especially jobs suitable for college graduates. But even if graduates are willing to "employ at a low price", grassroots jobs may not be easy to find. Cinda Securities released a research report in June 2022, pointing out that to stabilize employment, the bottom line of economic growth is roughly 4%. But even according to the official figures, last year's growth was only 3.6%, when in fact, our previous article pointed out that the more likely scenario is zero growth. This means that last year it was already impossible to "digest" the newly growing labor force, and the addition of the newly unemployed population formed by the economic crisis this year has made the youth employment situation even worse. As a result, some young people choose to be "full-time children" after graduation, taking care of their elderly parents through housework, so as to continue to rely on their parents for a living. Although we agree that housework also has its labor value and deserves to be paid, it is clear that under the current conditions, this is just an expedient measure for young people, rather than their voluntary choice. Essentially, unemployment is a necessary element of the capitalist system. It is precisely because of the existence of the unemployed as an "industrial reserve army" that the capitalists have the space to lower the wages of workers as much as possible. Coupled with the lack of democratic rights under the CCP, any independent trade unions will be quickly suppressed by the regime, making the internal competition among workers even more tragic, and this is the "involution" that is often talked about by young people in China. Serious youth unemployment is also seriously weakening the prestige of the Xi Jinping regime. Dissatisfaction with the CCP regime and cynicism against Xi Jinping are full of dissatisfaction with the CCP regime and cynicism among young people on the Internet who complain about unemployment and anxiety about their future. In a new phase of the economic and social crisis, workers and youth may launch explosive protests that will far surpass even the short-lived "blank paper protests" of last year. What we need now is to organize this force to rescue the oppressed youth and working class from unemployment, capitalist economic crisis, authoritarian rule, and imperialist Cold War with a democratic socialist alternative. https://chinaworker.info/zh-hant/2023/08/17/41296/ Back |
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