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China's youth face bleak job market as COVID slows economy

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BEIJING (AP) — Liu Qian, job\u002Dhunting with a new master’s degree, said two employers interviewed her and then said the positions had been eliminated. Others…

She is one of 11 million new graduates desperate for work in a bleak job market as anti-virus controls force factories, restaurants and other employers to close. The survivors are cutting jobs and wages.

China’s job drought echoes the struggles of young people worldwide to find work in depressed economies but is especially sensitive politically in a year when President Xi Jinping is expected to try to extend his time in power. The economy shrank in the three months ending in June from with the previous quarter as factory activity and consumer spending plunged. The ruling party has stopped talking about being able to hit this year’s official 5.5% growth target.Article content

In April, she quit a job at a financial company when she realized it was promoting virtual currencies, which is “actually not legal in our country.”Two out of five graduates surveyed want to work for state-owned enterprises that are viewed as safer and supported by the government, said Xing.

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China's youth face bleak job market as COVID slows economySo then is China's continued approach to lock down as soon as a Covid outbreak appears even viable now that we seem to be certain that this is a flu-like virus that will continue to mutate and circulate indefinitely throughout society? Isn't their approach pointless? Will it really be so? In fact, when one door closes, another door opens!
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