Jobless graduates may exceed 3 million
Over 3 million graduates in China are struggling to find jobs this year, according to a report on China’s social security, released on Sunday.
With nearly 7 million graduates this year, and adding on the unemployed students from previous years, the number of graduates struggling to find jobs before leaving school is estimated to have reached over 3 million, said Wang Yujun, from the Ministry of Human Resources and Social Security, at a press conference for the “2012 China Social Security Reform and Development Report”.
The report also said that delayed retirement is not a viable option at present, as the current conditions are insufficient.
The job market is unable to fulfill the demands of job hunters, with 30 percent of new job vacancies coming from the retired, according to Professor Deng Dasong of Wuhan University.
In China, calls are being made to delay the retirement age from 60 to 65, as the aging population continues to grow rapidly.