NUMBER OF THE DAY
China's youth unemployment hits this peak in August, reaching its highest level in two years.
🎓 Education Trap: Record 12.2 million graduates flood a shrinking job market, many end up delivering food instead of using their degrees. One grad reports fake job ads and offers that vanish faster than free samples at Costco.
📊 Grim Numbers: Ages 16-24 at 18.9% (excluding students), 25-29 at 7.2%, overall urban unemployment at 5.3% – youth bearing the brunt while their parents ask "why no job yet?"
Watch: China's "lying flat" 躺平 generation loses faith in the grind-to-glory narrative. The education system churns out millions of graduates in fields with job openings as rare as pandas. The economy's transforming, but old and new sectors can't absorb the talent tsunami.
The China Survival Guide for Western Businesses
Entity setup, WeChat strategy, hiring your first local team. 12+ years on the ground in Shanghai.
