China's Graduates To Hit 7.27 million This Year
Mars Woo | | Mar 15, 2014 07:30 AM EDT |
China is facing yet another severe challenge to its unemployment problem as the government announced that the number of this year's university and college graduates is expected to rise to 7.27 million.
The figure is 280,000 more than the number of graduates last year, expectedly posing another problem to the unemployment figure in the country.
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According to the Institute of Labor and Social Security, up to 50 percent of the 7 million graduates will take up China's job market while the rest will be struggling to find work.
Experts said only around half of the college and university graduates each year immediately find jobs while the rest become yet another addition to the unemployment number because some of the majors being offered in universities are not what are needed in China's fast changing market.
"Education authorities really need to transform colleges and universities to ensure that students take up majors that are needed by the industries," said Wang Shuping, a member of the National Committee of the Chinese People's Political Consultative Conference.
Chen Kehan, the deputy of the National People's Congress, also urged colleges and universities to reconsider their program arrangement and majors. She said there is actually a greater demand than the supply in China's job market but the problem is that disconnection exists.
Experts said many Chinese students are jumping into IT and finance majors thinking that these will provide good jobs in the future. However, there is already an overflow of graduates in those fields. On the other hand, the logistics and gardening sectors often find themselves struggling to employ qualified graduates.
When fresh graduates fail to immediately find jobs, they tend to pursue higher education like a master or doctoral degree but recent study showed a high degree in China does not promise a better job.
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