China’s jobs crisis: youth unemployment a thorn in the Communist Party’s side

Published on: 2022/10/21 – 18:37 Zero Covid policy, real estate crisis, unemployment… The Chinese economy is slowing down and nearly 20% of people under 24 are unemployed. An employment crisis which embarrasses the Communist Party, whose 20th congress ends on Saturday. The 20th Congress of the Chinese Communist Party (CCP) ends on Saturday October 22 and President Xi Jinping – on his way to a third term as head of the country – should emerge even more powerful. Unheard of since Mao. However, the Chinese economy is slowing down, between zero Covid policy, real estate crisis and youth unemployment. In Shanghai, Zhang Jialiang has chosen a long prosperous area in China: maritime transport. But just graduated, he is already unemployed and struggling to find a job for months.”I sent applications for more than 70 positions, but I only received two or three responses for interviews, he explains to France 24. Spotted before the end of his studies by a large freight company, he was promised a comfortable future. But his contract is suspended sine die, the sector suffering from the zero Covid policy. “J I always thought that my career was all mapped out. But this year, because of the pandemic, there are too many uncertainties… Today, I cannot know what the future will bring.” Youth disengagementLike Zhang, nearly 20% of the least 24-year-olds cannot find work in China, something never seen before. Yet Xi Jinping himself encourages them to participate in the country’s economic development. “Young people in China are living through an extraordinary time. They have unparalleled opportunities to show off their talents, and unprecedented prospects to realize their dreams,” said the Chinese president. But many no longer believe in these prospects, and refuse productivity at all costs. jeunesse even has a name that has gone viral: tang ping, meaning “stay in bed”. On social networks, they share their disappointments: “I’ve been ‘staying in bed’ for four months, how about you? How long have you been unemployed?”; “I feel abandoned by the world so I ‘stay in bed’ every day”, one can read. Faced with economic difficulties, some have no choice but to themselves, like Fu Ningjie, a former real estate agent who now sells skewers to get by. “It’s getting harder and harder to earn a decent living,” he says at France 24. The wages are not as high as before, the bonuses are also falling. In addition to Shanghai, the rent and the cost of living are very high. “And this employment crisis could still worsen with the slowdown of the Chinese economy: according to forecasts this year, China should register its weakest growth for at least forty years.