There is a lot of discussion about unemployment in India, but do you know that it has become a serious issue in neighboring China too? Let us understand from latest figures and facts that how many people are wandering in search of jobs there. The growing unemployment in China has become a big problem. The number of such companies has increased amid growing unemployment. Those who are offering job offers to people for showing. According to the World Bank, in the year 2023, the unemployment rate in China will be higher than India, unemployment in China is 4.7 percent while in India 4.2 percent.
This year, the unemployment rate among the youth had increased to more than 21 percent, after which the Chinese government stopped releasing unemployment rate figures to hide this growing unemployment. There is a competition for government jobs in China as people in India run after government jobs. Let us tell you that China’s economy has been facing many challenges for the last few years. The Kovid-19 epidemic and lack of global demand have affected the country’s economic activities. Its biggest impact has been seen.
According to one figure, the unemployment rate in China in the age of 16 to 24 years reached a record high of 21.3% in 2023. However, recent figures have improved, unemployment rate in June 2024 is 17 percent and currently about 14 percent. Nevertheless, this figure shows that one in five youth are looking for employment. But the number of jobs in proportion to demand is not increasing. The Chinese government has questioned transparency on unemployment data. In 2023, the government stopped releasing young unemployment figures for some time. Experts believe that the actual unemployment rate may be much higher than the official figures. The situation in rural areas is worse.
One of the major reasons for this is the entry of a record number of college graduates. In 2023, 1.16 crore students graduated and this number is increasing in 2025 as well. According to government data, this year the number of graduates is expected to reach 1 crore 22 lakhs. This is the biggest figure ever.
In China, youth are not getting jobs according to their skills. The youth who do not get a job according to their skills do not want to sit at home, so they keep themselves busy by pretending to leave the job. The trend of ‘drama of working’ in China is becoming very popular. In this, people go to work in fake offices. They spend the whole day there and also pay the company themselves.
