The Wall Street Journal reported on the growing imbalance between ever-increasing numbers of college graduates in China, and the growth rate of jobs in the employment market.
IEMS’ Albert Park gave his commentary on the issue in their report, an excerpt of which can be found below:
“One reason for all the high anxiety about higher education is the fear of social instability. Even if they don’t have to face an angry electorate anytime soon, the prospect of large numbers of better-educated urban youths facing employment problems is enough to make the new leadership team sit up and listen.
“Support from the urban elite is critical,” said Albert Park, an economist who looks at labor issues and is now the director of the Institute for Emerging Market Studies at the Hong Kong University of Science and Technology.
Part of the problem is that the ranks of college students have been growing at a fairly fast pace for some years, adding to the manpower supply. Now that economic growth is slowing, the stresses are painfully obvious.
“The expansion of higher education has created much more real pressure for finding jobs,” said Mr. Park.”
Read the full article here: Beijing’s Latest Worry: College Grads
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