For more authentic insights like this from Asia, you can watch some of our exclusive videos not available on TH-cam for free here: asianboss.io/yt/123-exclusivevideos
Thanks for your coverage on this topic! I'm really looking forward to another episode of the unemployment topic targeting minor cities in China. Because unemployment in China is much worse in smaller, especially aboriginal towns than in major cities like Shanghai, where governmental resources and business investment concentrates.
😭😭i work 3 jobs in the USA just to pay rent and eat. 2 jobs are delivery of food and medical device. 3rd job is caring for the elderly nursing on weekends. Can't find a decent job in the USA. I have no benefits because these jobs are all part-time. i'm 43 yrs old with a degree in business admin. I have $50k in student loan debt since i graduated 20yrs ago. My gf has 2 jobs, her parents has 2 jobs, my dad has 1 part time job and my mom passed. WE ARE ALL STRUGGLING TO PAY RENT IN THE USA!
@@kyginger8005 where did you get the data about the smaller towns being worse. I heard completely different stories from you. People lost their jobs or cannot afford their livings in big cities went to back to work in smaller cities/towns. They got paid less but they still lived a sustainable life.
@@BloodyPandas There is no publicized data that backs my thoughts directly, just personal experience being a Chinese living paycheck to paycheck, combining with what I see and hear.
Basically the same as everywhere. There are two different unemployment situations: there are no jobs and there are no jobs you are willing/able to do. The more college educated people, the more specialized, and your expectation of job market becomes narrower.
😭😭i work 3 jobs in the USA just to pay rent and eat. 2 jobs are delivery of food and medical device. 3rd job is caring for the elderly nursing on weekends. Can't find a decent job in the USA. I have no benefits because these jobs are all part-time. i'm 43 yrs old with a degree in business admin. I have $50k in student loan debt since i graduated 20yrs ago. My gf has 2 jobs, her parents has 2 jobs, my dad has 1 part time job and my mom passed. WE ARE ALL STRUGGLING TO PAY RENT IN THE USA!
What the hell? The US job market is super good right now. My wife and I are both mid level managers, and the pay + bonus have been going up fast in the last 2 years. There are so many jobs and not enough workers that I have several interviewees who just don't show up and don't even call to cancle. This happens because jobs are so easy to get that they are not afraid to burn bridges. We Chinese Americans, having focused on advanced degrees and having high paying jobs and plentiful investment opportunities, are very prosperous.
Also, the more specialized and higher the expectations of the workforce, the harder it is for people to find people willing to work low prestige jobs. This means that these positions end up being understaffed, leading to the people in those positions ending having to work longer hours to keep up. The pay for these jobs will be lower than high prestige jobs, but they end up going up still, so the gap between them and high prestige jobs go down, but people still don't appreciate them because there is still an image that they are still low prestige. This leads to prices of the every day things that these jobs provide going up. The more accessible that it is for unemployed people to access enough money to live, the less willing that people will be to do these low prestige jobs, because why not just... not? Especially if taking something like a labor or factory job means low pay and overtime, you will not have energy to search for the kind of job that you think is ideal because you will be too busy working. If you can get by without that, and spend your time searching for the good job, this is more rational a strategy. But this effects the fundamentals of the economy. I think the problem is actually ironically that we are too educated. Too many people go to post secondary education. Nobody wanted to do those jobs in the first place, and there was work that was better that required post secondary education. So people start to think that getting post secondary education means getting one of those good jobs. But for every 2 good job there is 8 bad jobs that need to be done to support its existence. Ironically, what helped the west get by is they shipped the "bad jobs" to China. This helped improve the Chinese economy. Now Chinese people are getting richer. Now they ship the "bad jobs" to the rural people. But you end up either having to force people to work, or you end up in this situation ultimately. I think China tries to mange this by restricting the ability for people to migrate internally. This way you can keep some provinces poor and dependent on this unwanted work for survival.
@@xiphoid2011 Wow I'm also Chinese American freshly graduated from University and have been looking for a job for the past 4 months - if the positions that have had several interviewees not show up are still available, mind sending me the application link? Haha Thanks 😅😅
@@dannyz2560 I'm hiring pharmacists and pharmacy technicians in a major metro in Texas. We have been having trouble filling job openings since COVID started and many boomers just chose to take early retirement. This is why US is so short of labors right now. We hospitals have been stealing staffs from each other back and forth, each time the wages go up, but the labor shortage is still here after 4 years! It's a real headache for us in mid level management, but yes we Chinese and Asian Americans are enjoying the higher pay and secure jobs.
In Australia, i know someone graduated from master of arts and couldnt find a job. I know some migrants who could hardly speak english found jobs in construction industry. There are jobs but no one want to do. There are people who couldnt find what they WANT to do.
@@blackbelt2000 that is exactly what happens in china. More middle class family who sent their kids to study uni , they all want to sit in the office. Whereas there are still shortage of blue collar workers. To some, working as plumbers etc are still classified as low level jobs.
If your skills and personality are better suited for something else, should try and do it. Another issue with a lot of places is sure you can get some jobs if you need one, but one that pays enough for essential expenses is a bit harder to find.
The former HR guy basically described most single men: his expense isn't much because he is single, so he can easily get by for at least 6 months. I'm not unemployed, but If I was laid off today and not paid any severance, I'd be just fine for 3 years, not because I make much, only about 40% more than the local median, but because I don't have unnecessary expenses like wife, kids, girlfriend, alcohol, cigarette and other drugs, car payment etc.
@@patatedouceyaim1407 No, I'm not 40 yet, although getting close, and I live alone paying rent for now because mortgage interest rate is a bit too high these days.
4:33 the lady said "我们在小城市觉不出来“，that should be the regional dialect means "we don't feel that much(of unemployment) as we're in small town". Maybe the translator thought it's "决不出来"= “never come out”, where it should be "觉不出来“ = ”don't feel much"
People who are 35 or older will have a harder time finding a job. Companies will not consider their application because they are deem to old. They’re laws to prevent companies from discriminating based on race, ethnicity and gender. There should also be laws in place to prevent age discrimination.
Expat living and working in China here, and I would say unenployment isn't as serious as many other countries. I have some colleagues join job interviews two or three times a week and reject offers all the time. It seems more like it's more about choosing the right job than not being able to find a job.
Are you in a large and prosperous city in China? If you are then that could explain your observation since smaller cities and rural areas where the majority of China’s population lives have to experience more economic hardship.
@@RealVedicAstrology I currently live in Shanghai and used to study and work in Beijing before. I have some local friends who live and work in second or third-tier cities, and I would say that the job options there are definitely not as diverse as in bigger cities, since most of China's biggest companies (especially in the tech sector like Tencent, Alibaba, ByteDance) are located in larger urban areas such as Shanghai, Beijing, Shenzhen and Hangzhou. People working at smaller cities do earn less money, but that's because the minimum wage calculation is defined by each province and whether it's in the urban, oustkirts or rural area to match the local living expenses standards. Actually living there is not bad at all and perfect if you dislike the hectic life of big cities. For the younger generation, they tend to come to big cities to study and work since there aren't many growth opportunities in their hometowns. (By the way, 60% of the Chinese population lives in urban areas)
Generally, a 16-year-old is considered a minor in my country of origin and should not be allowed to work full time. I live in China and own a company and I find no shortage of work or opportunities neither for me nor for employees... but it is increasingly difficult to find young people willing to work for a fix salary when they can earn more doing other type of gigs independently with no fix hours, so the current ¨unemployment¨ statistics are very biased and misleading. It is socially accepted in the USA that minors (under 18) can work as adults, instead of focusing on their education.
How much do you pay? The single biggest frustration among every one of the friends I have back in China is that none of them want to accept earning 3000-4000 in Tier 2s. Even 8000-10000 in a place like Shanghai has been low for forever, but there are still so many jobs that don’t pay enough for the life people want to live. They give up and live with parents. So, you may give plenty of opportunities, but do you actually pay the salaries your employees want?
@@financialgardening I'm not talking about myself, I'm in the industrial development field doing robotics and complex products. The salaries in my field are at a minimum of $4,000 USD and up for employees. Salaries in Shanghai are high, and that's why many Europeans and Americans look for positions and opportunities here - everything is happening here now. It doesn't matter if it's a second or first-tier city, what matters is what you can do and what credentials you have to prove it. I personally know many professionals who decided to quit the big city life and went back to their hometowns to generate much more money in e-commerce or other online gigs. That's what's really going on with the statistics - not much unemployment, but undeclared self-employment. There is also another group of self-overpraisers who can't accept positions they feel are not good enough for them, so they fill the unemployment number even when is their own choice. In China, you can get a job within a day if you want, as there is a wide spectrum of salaries based on your capabilities. The jobs you mentioned are at the lower end of the pay scale, and with those salaries, you would not be able to afford a rent on your own or even live comfortably while sharing accommodations. The financial situation would be quite tight in big cities with that.
Very true, following the ban of tiktok folks in the states don't know many young people in China use it as a serious promotion platform and so as many brands, they can easily generate ¥50k~10kper month in revenue, profit rate depends on industries, product types. With the flexibility of working at home, outside or studio, those with talents and resources are not keen on working a 9-5job regardless the earning amount, given it 5k RMB or 20k, any serious survey should counts Chinese youngth Self-employed status, they will be surprised many of them have 2nd, 3rd side kicks.
@@fion3943 Stop assuming things. I was talking about the general situation in China (I said ¨there is¨ a problem not that ¨I had a problem¨). Young professionals have high degrees and are very selective about what they want to do for a living, and many of them prioritize entrepreneurship over a fixed salary. I have no problems; I've worked with the same group of professionals and technicians in my company for over a decade.
Though there is unemployment in China, I think China is doing a great job fighting unemployment considering its massive population. China’s unemployment problem is a bit low according to this video compare to many countries with less population that have crazy unemployment rates. Also one of the men said there are jobs but not to the standard you may want or qualify for. China Is a high-production country so unemployment will never get bad cause there is a lot of production which also needs workers. China is also a country that encourages entrepreneurship so a lot of citizens run their own businesses instead of needing a job.
In their way, a strong single government does have its benefits. A path forward is set and metrics defined, bow it's just up to the local governments to enact it. Whereas in the west there's just lots and lots of talk and lobbying and things get shelved for years. I mean, in Sydney it took almost 35 years before the second airport finally broke ground. The train system had to be totally overburdened before expansions were started even though a review 40 years ago said that a significant capacity increase through those coming 40 years would be needed. But nothing was done for 30 years... Again
Yes. Life is not just only chasing for💲. Health is no. 1 of anyone priority as without health you have nothing. With health, one can have many options including what type of lifestyle, career and family life.
@@stevenliew2507 Young people dont understand and it is not their fault. In my chart-group with classmate, we all talk about money when we were younger. Because we still have children, house and car mortgate etc. Now we talk about health because children grown up, paid mortgage and some on use went to grave because health issues.
😭😭i work 3 jobs in the USA just to pay rent and eat. 2 jobs are delivery of food and medical device. 3rd job is caring for the elderly nursing on weekends. Can't find a decent job in the USA. I have no benefits because these jobs are all part-time. i'm 43 yrs old with a degree in business admin. I have $50k in student loan debt since i graduated 20yrs ago. My gf has 2 jobs, her parents has 2 jobs, my dad has 1 part time job and my mom passed. WE ARE ALL STRUGGLING TO PAY RENT IN THE USA!
Three of my colleagues were laid off last year in shanghai，two of them got new job fortunately in three months. The another one found a job in hongkong last week，he got alot of increase in his salary.
I know a lot of people were expecting worse because these days the hate people have for china and its government is tough. im glad these people where honest. Unemployment is everywhere,it depends on the job you want.
The Western mainstream media either describe China as an evil superpower that is gonna rule the world soon or as a collapsing autocratic country that fakes all economic numbers
Many people have not received a good education, and their parents are no exception, so they are easily manipulated and ordered by American politicians to hate people they have never met before.
t's really stupid to ask whether the unemployment rate is serious or not. . . The people you are interviewing have no idea about the real official data of China, and the people you are interviewing also live in their own small circles. Everything that happens around them cannot reflect the overall employment rate, so this kind of question is meaningless. . .
It's not that bad, it's just that young people are simply no longer willing to do certain jobs. I will upload a video on this topic on my channel too, featuring both local and foreign job seekers.
that's bs. During the pandemic, compared to the actions of sending the cash from us gov, saving the employment rate and welfare policies from euro govs, Chinese gov is sending people to take covid tests. It was printing the amounts of cash more than us gov in last four years but never into general people's pockets. of course, u didn't feel that since u were making business in China. lol
With a brand-new studio apartment costing $165/month in China (Chongqing), should not be hard to come up with money that with side hustles, in U.S the rent would be $1650 and out of work means you would be homeless.
I wish you were exaggerating but it's 100% true. Housing is easy and plentiful in most of China. Been there 4 times for months at a time. Here in SoCal a studio will run you close to 2k. Or rent a bedroom in a house for ≈$1400...miserable experience.
@@2WheelsGood.01 I uploaded the video, Condo associations fee is maybe not included (a normal thing in China to not) but for this size would be ~$20/month. th-cam.com/users/shorts8xI6sVxI31w
@deliriumskid What does that even mean, by the warf rent is probably more expensive.U S has 600'000 homeless with no way to come up with f.l.s of $6K and paystub showing $5K/month to get approved.
Basically same thing in Canada but because China has such a massive population the unemployment problem is amplified. If you have 10+ years of experience with industry specific certifications you'll always be able to find a job.
here is not that easy, they box you into age. over 35 no matter how good u r, your chance will be much slim. for Chinese companies mostly. unless you are super lucky.
More importantly, the China government is more inclined to protect the interests of enterprises, so that China's labor law can not fully play its role so far. For job seekers, this is a double dilemma. On the one hand, whether they can find a job, on the other hand, how long they can work without being laid off.
@@bentchudy2704 It's the same everywhere. And probably even worse in very capitalist countries like US etc., where politicians actually work for the big corporate interests, not the voters who elect them.
It's not really true though because 24 hours are very different for rich and working people. Working people clean, cook, take kids to school, care for children and family members, work multiple jobs, and work while studying. Rich people pay others do to all those tasks for them.
@@zarategabe so true... even the time is the same, but the poor need to sell their most time for survival and basic needs, while the rich could spend more hours on how to live with their hobbit and passion.
6:37 onwards explained the essence of the situation for many advanced countries. The economy is still like before, so the demand for the worker demographics does not match the actual demographics available, so the least competitive people become forced to either innovate or take up jobs they don't like or low pay or they are unsuitable for. But this also leads to entrepreneurship, which should gradually change the economy to require worker demographics closer to the actual demographics
India's unemployment rate 8% or more and out of unemployed peeps, 83% are youths 😢. Economy is growing but not the job numbers. How bad can be the jobless Economy???
It depends on which State you are in also ,,for eg in my state of Karnataka the unemployment rate goes from a range of 0.9% -2.8% and youth unemployment will hover around 8-15%..but when you consider the whole nation majority of our youth are in UP and Bihar which do not have enough job opportunities which brings up the unemployment rate....
Situation got so messed up when you realise the unemployment rate is more in Haryana and J&K but it's people are still not poor infact many are rich but unemployment rate in up and Bihar is low but still their people are poor
High growth rate is due to Modi changing the method of calculating GDP in 2015, growth jumped from 4.5% to 7% since then. Many prominent economists had questioned the data, Central Bank governor Raghuram Rajan, Chief Economic Adviser Arvind Subramanian.....Look up article, Is India exaggerating its economic growth? - BBC GDP Numbers Are Mystifying, Don't Add Up -- theWire
Unemployment rate is also rising in Canada. Especially the tech sector and I heard stories about some of my friends being laid off because their companies just don’t have work for them.
The Chinese unemployment landscape perfectly encapsulates the dangers of “Degree Inflation”. The more undergraduate, masters and even PHD degrees you have the less valuable they become in the labour market. Normalise not going to college at all and instead taking up a trade skill. Avoid wasting years of your life chasing higher levels of college education without an equivalent reward.
Chinese culture deeply values education . It’s from Confucian tradition. Even back in the dynastic periods there was a problem of too many graduates of the civil service exam for the number of official positions open
That's crazy how the graph can be so misleading. I've hearing about the 25% unemployment rate posted everywhere, But I never knew it was 25% including full time students. Truly unbelievable how media lie to us.
According to different surveys, the unemployment rate in my country is between 4-5%. If the survey only counts 16-24 years old then the unemployment rate will become almost 80%. Because most of the kids are in highschool till 18/19. Except a few, most of them will continue their education. Since our country is still developing, there's no part time jobs available, the only way those university students can earn some money is through tutoring or freelancing. Also a small percentage of the students are joining content creation. They'll join the job market only after graduation at 23/24. So if those survey didn't include those external factors, then the whole result will show opposite result of the true situation of job market in my country. This is how the west mislead it's people and rest of the world. They'll make fake news about their enemies and demonize the normal people of their enemy country. Be careful of what you see on the news. There's too many misinformation this days.
Unemployment is high. Otherwise you wouldn't be seeing big numbers of Chinese with a nest egg, risking that, and their lives to get to America. All this video shows is no one knows what's going on in China besides their own bubble bc the media is so controlled by the gov.
The Chinese government revised the unemployment measures, removed students, but the revised unemployment is still 19%. 😮 that's really high for young people.
China they dont count food staller , delivery service on the employment rate. As i know theres many youth cant find their dream job so they go do delivery service or open stall by themselves.
My nephew is going to graduate school because getting a STEM degree apparently still have a tough time getting a biology job, so he is going to graduate school to avoid unemployment and save face. Studying more, learning things automation can't do has been the human refuge for the last 200+ years since the industrial revolution. We started with elementary school, even 40 years ago high school was enough, now undergrad is barely enough, soon it will be masters or doctorates. And with each jump in higher learning, we delay our lives further. My wife and I (we met in graduate school in the US) have doctorates, but marriage and children had to wait until 30 years old. However, with shockingly fast advancement of AI in just 1 year, now with the ability to be creative, I'm really worried, not just for my nephew but my own children. In another 10-20 years will there be anything AI and robots can't do? My wife and I talked, and our conclusion/safety net is what the Chinese culture had already made us do -- save and invest ALOT. Our discussion lead us to hypothesize that in the future there will mainly be 2 class of people: the owners/controllers of AI/robots and the rest. The majority of the people, most likely jobless, will live on some kind of social welfare with a small annual increase to maintain social stability. While the owners of the AI/robots (capitalists) will be able have control of almost unlimited wealth. The middle class, be it skilled labor or former professionals like doctors, will basically be gone. We know which side we want our children to be on. So we concluded that capital investment and accumulating wealth was, is, must be the goal in the next 10-20 years. Of course, there is another possibility that technology may indeed become sentient and governments/nations have failed to build a safety barrier around AI. Well, in that case, money won't matter, but neither would anything else, anyone would be lucky to be alive.
I can't say I'm surprised that the unemployment rate is highest among the college educated. Employers are sticklers when it comes to screening for past experience, and most job candidates in that age cohort will be lacking. In terms of AI's impact, the entry-level white-collar class will have their job security threatened the most. Many mundane cubicle jobs are already being wiped out. The trades will be immune to automation for a while, because robots won't be able to perform any of the complex, physically strenuous tasks that carpenters, electricians, mechanics, etc. perform.
You won't get the answer if you interview people who are still in the city, because when China's economy was good, most of the migrant workers came from the countryside. Now that the unemployment rate is serious, many migrant workers have gone home. China's real estate is the best reflection of the problem. Many rental properties are vacant because migrant workers have returned
The trades will only be safe for a short while. As these will be the only type of jobs people will be able to get there will be a saturation in the trade market pretty quick. So carpenter and plumber willl face huge competition in the future which will bring down wages to next to nothing.
Robots can. It's just there's so many use cases and each one needs to be trained with through software, so it will take a while because of that. Plus, there needs to be a bit of a industry presence with robotics given the construction industry are typically a later adopter of cost savings innovations.
You are correct. The entry level white collar jobs will be the first to go because it's relatively easy mentally and doesn't require robots. Another factor is the higher rate of return on investment. Since white collar workers cost more money, a $1 million AI robot only needs to replace 15 of them to break even in 1 year, while it would have do 30 blue collar worker's job. So the recent and upcoming new college grads should be very worried. But even higher level white collar professionals like doctors or low level blue collars are not far behind. Just see how Figure 1 is able to understand abstract concepts and do human like work is truely scarly.
This is a stereotype but Chinese who born after 1996 may not be as diligent as people who born prior to 1996, while most of hiring managers born in early 90s or 80s.
I think the woman at 4:39 and the man at 6:58 summed it up best. It's not that jobs aren't available, but the jobs that are available might not be acceptable to the people looking. Although to be fair, depending on their stage in life it may be difficult to continue their standard of living on those unfavorable jobs. But of course I'm speaking as someone who knows very little about the Chinese economic environment. 😅 But it sounds a lot like American culture, quite shockingly. I also like the girl at 10:26, her answer was adorable. Haha
How is unemployment possible in China. So many US jobs in America closed in America to be open there in rhe past 20 years. Must be the population getting too large and older
Primarily driven by lack of supply, especially in essentials like housing. All while corporations report record revenues. Our wallets circle the drain of a deliberate profit-price spiral.
depends where you live. inflation has risen prices, no doubt, but most people I know, including young people have no problem finding jobs that can provide for all their living expenses.
my advice to those currently unemployed : just take whatever job available that you can do (just think of it as stepping stone). while its not bad to desire job that you find suitable / higher pay, save idealism for when you actually have option. when there no option, dont be picky
Being middle aged, what he says is inspirational but practical. The truth is just working hard and staying positive won't make a good life. You must couple hard work with a good plan to have a good life. Look at us Chinese Americans. We prospered far beyond even white Americans. Meanwhile you have Hispanics and African Americans that stays poor even though they have been here longer and were richer than us when we chinese first came here. Blacks and Hispanics work very hard too, but the difference is they don't make long term education focused plans. This is why we Asian Americans went from the poorest to the richest race in the US in just 30-40 years, while they remain poor even after more than 100 years.
The HR guy spoke well… when companies are hiring they’re not looking for “the perfect applicant,” they’re just looking for someone who they can train to do the job ASAP. Fresh college graduates will have high standards and don’t want to work a job with a title/ salary that they think is beneath them or their education level.
As a tech founder in India, surprisingly it is the same. Fresh college grads have high expectations, the brainwashing that Gen Z is different etc. Very hard to find freshers with right attitude. It is not their fault. 'Education' & 'trainings' have spoiled them and made them less emploayable.
@@deadgamer4140 For the benefit of those who listen, few points: I understand how many socialist activist influencers are peddling some stories. Few points : (a) From 2004 to 2024, fresher competency has not increased. (b) It costs more to train freshers because the experienced members are more expensive now. (c ) Attitude and behavior don't depend upon level of CTC once a job is accepted. (d) Many of the top leaders of large companies say that irrespective of salary level, freshers are too distracted. Many think they already know everything etc. Now these companies, pay much higher. Due to these factors, many reputed companies are delaying onboarding. I hope freshers stop watching content of self-serving influencers.
The unemployment situation in China is completely overblown. It is in fact way easier to find work in China than it is in the west. The high youth unemployment is because of several factors, 1) Family finances are much more lenient now, particularly in the cities. This has led to lying flat for many youths who cannot find ideal jobs. Most families are in the 4-2-1 arrangement in the cities from the one child policy, so many youths stand to inherit substantial resources without having to do anything. Many don't have the need or motivation to grind out a difficult career. 2) Record numbers of Chinese students are going to graduate school and investing in further education which leads to a later entry into the work force. 3) The general social trend to a much later entry into the work force to to the growing sophistication of modern high value add jobs is taking place everywhere. In China it is happening far faster than it did in the west. The reality of the labor situation is this. High wage, high value added jobs have gotten more competitive with the slowed growth in the past 4 years since the pandemic. Young people are particularly feeling the squeeze to land their ideal dream jobs. However generic jobs are extremely plentiful. With the exception of construction which used to be red hot, manual labor jobs are booming due to the chronic shortage of workers. Seasonal work is also extremely plentiful in Chinese cities. Outside of almost every fast food restaurants you will see job wanted for cooks and waitstaff. Sales people and service staff wanted adds are also outside of shops all over the city. The issue is just are you willing to work in these menial labor jobs in the services sector. This is not like in Canada for example where 300 people line up to apply for jobs at Walmart and can't get them. The equivalent of Walmart in China always has an unlimited number of jobs and not enough candidates.
I don't think the point is how bad it is in absolute terms, but how abruptly it's changing. Also, working in a Walmart is much less a class issue in Canada than in China. Relatives in my family paid 300k to get a niece of mine a 2k/month job so they get the slightest sense of relief. It is not the same
@@TheVampB Working at Walmart in Canada is for sure a class issue. You will not find any well to do families with any family members that work at Walmart. Also if you knew the people that worked at Walmart which I having worked at these places while in school do know, you will know they are not normal middle class people. People that work at Walmart are mostly desperate lower class people that can't rub two $50 bills together. The wages from lower end retail and service jobs in the US and Canada are not living wages. Also when times are bad you cannot just get extra shifts to work extra time to make ends meet. You can get hundreds of ppl lining up for McDonalds jobs at the worst of times. Things are changing but the speed is normal for China. Things go boom and bust in weeks in China. Ppl go from making a million dollars in one year to losing a million dollars the next year. That's just how the unfettered market system for the service sector works in China. If you want no income volatility and just high incomes that doesn't exist in China or anywhere else. The problem with Chinese people and their insecurities is they want a guarantee for everything. They want to buy their kids a guaranteed high income for life and complain if they can't buy this or it is too expensive. This kind of thing doesn't exist anywhere in the world. You can't buy your kid's way into being a doctor or a AI engineer at google. Your kids have to earn that on their own. If you buy their way to live in opulence the only way to do it is by giving them a trust fund. Any other way will cost you exponentially more money. For example you can buy your mediocre kid a degree at Stanford for 2 million and put him in a high paying job at a company that you generate millions of dollar of income for. But then your just spending 10 million dollars to buy 4 million dollars of value. The only thing you can arbitrage between China and the West is that the competitiveness of the average worker/student is significantly lower outside China. If you talk about how the average uncompetitive person is doing. They do even worse in the West than in China. The bottom 20% of the population out here live extremely poorly.
😭😭i work 3 jobs in the USA just to pay rent and eat. 2 jobs are delivery of food and medical device. 3rd job is caring for the elderly nursing on weekends. Can't find a decent job in the USA. I have no benefits because these jobs are all part-time. i'm 43 yrs old with a degree in business admin. I have $50k in student loan debt since i graduated 20yrs ago. My gf has 2 jobs, her parents has 2 jobs, my dad has 1 part time job and my mom passed. WE ARE ALL STRUGGLING TO PAY RENT IN THE USA!
@@michaelgothenburg364that’s because US also count any form of employment, such as casual. China counts full time or part time. They don’t count delivery services
@@michaelgothenburg364 3.6％ is the overall unemployment rate, not youth unemployment rate, the unemployment rate of China is about 5% still higher than USA though
Hi from Singapore. The relevant thing is China has no inflation while US suffers runaway inflation leaving most people hopeless! In china, 85% of the people own their own homes. But in the US today, almost nobody under age 40 owns their own house and they never will.
@@weiwei7109 Yeahbut US thinks it's the same. US senators accused the Tiktok CEO, who/s singaporean, of being "CCP" and used that to justify the senate banning it.
@@weiwei7109 the reality of the ban ofc is different, twofold. One, it's plain theft. Two, they wan power to control and censor its content. No more gaza videos for example. They don't want your eyes to see the truth.
Once you strip out geopolitics people are the same everywhere, they just want to have a good job, financial stability and the time to lead a good life. Like old uncle said, being kind to onself and living well is success
Really enjoyed this segment. I think because China's economy is dynamic and not a fiancialized economy, the variations in the sentiment seems emblematic of that. The attitude of 'lower your expectations' i think can be better characterized as step back and gain perspective; regroup. CNA Insider had a mini doc a couple of years ago of young Chinese returning to the countryside and redefiing their expectations on careers and livelihood there (as several folks mentioned). This was an illuminating behind the numbers segment. Thank you. I'd love to have a set of interviews on the laying flat and let it rot movements. And how are people responding to the population decrease--as the young man in the end mentioned.
@serriajohn Nope, the younger generation in China doesn't think this way, so I don't think the U.S. needs to do anything to stop China, they will collapse in the future.
The main problem is entry level job pay adjustment, a few year ago, you can enter an company with 8000+ salary and now the entry level jobs have gone down to 4000-5000, the recent graduates doesn’t want to take the low paying jobs because they still think 8000+ jobs are out there
I think unemployment in China is probably a lot like America because of country size and population, where in employment or lack of it will depend on where you live. Some places there'll be high unemployment and in some cities there's an abundance of work. I also suspect that some graduates, just like in many countries won't or aren't prepared to take work that isn't in their field of study they did at University. I was always taught it's better to be in work and looking for a new job than out of work and looking. Employers are more likely to more favourably on you if you're working even if it's in a job that's not related to your qualifications, it shows to them good work ethic. What I found interesting when the subject of Ai came up and they didn't think it was an issue, as like they stated it's in the early stages of the tech. Yet ask the same question in the West and the response would be the complete opposite.
Some people are obsessed with their educational level and neglect their majors. In other words, their majors are easier, so competition in society is more intense. My cousin is a master's graduate in materials science, who lives in a small city in China and works for a private chemical enterprise. His salary exceeds more than 90% of people in China, including Beijing and Shanghai.
Many undergraduates in China will go on to further their level of education because survival is not a major issue for them, and their families will continue to provide for them until Generation X decides it is time for them to go to work. So they will choose to further their education instead of looking for a job.
If "job" refers to holding a position in a company, then the current youth unemployment rate in China should be relatively high. But if it refers to making money, then the unemployment rate is much lower. Set up a street stall to sell things, babysit for others, use your skills to teach, use the Internet to make money, or change your life in another city... There are so many freelance jobs to choose from. In China as long as you go out and find something to do, you can always make money.
I can really not understand those guys saying something like. I had a job but I resigned during the pandemic. I mean the last I wanted was losing my job during the pandemic.
Where was the street interview conducted? I believe the survey could be vary a lot across different regions in China. Some eastern provinces in China, which are close to the major harbors for international tradings, may have a higher employment rate due to the stronger economy, whereas the remote provinces on the western or northern side are facing a more difficult situation I believe.
A large proportion of Shanghai's population comes from other provinces, and it is likely that none of the interviewees are locals. They emphasized their assessment of the unemployment rate of their friends, including their hometowns!
@@不才多指教 seems like you just made up a delusion for yourself. Usually even if one man is a newcomer, he would entitle a precondition before answering, like "in my hometown...".
Education is pushed highly in the U.S. and in China both are equally expensive, yet you have to pay back your loans with the job you get after college. The lowest paid jobs are determined by minimum wage. The highest minimum wage In the U.S. $17. 00 in DC. In China represented dollar conversion is in Beijing at $3.20. In China it would take you forever to pay back your student loan at minimum wage, because you are not working in your field of study. There is one major difference, in China you can be arrested for being delinquent on your loan payments.
Chinese student loans have no interest and it is easy to apply for deferred payment. When you graduate and are ready to repay the loan, the bank will encourage you not to care about financial problems and get a master's degree. To be honest, Chinese banks are state-managed and they pay more attention to social indicators than operating profits.
I have never heard of anyone being arrested in China just for taking out a loan, not even Mr. Xu Jiayin who owed 2 trillion, but China has a credit system, which is also the source of the Internet social credit meme. If your loan is not paid, you will be restricted from using airplanes and high-speed trains, as well as applying for high-tuition international schools. I
What a great interview. I believe the employment in every town or city is just like Shanghai. Most people can get a job easily and the government provides financial aids to everyone nationwide.
My wife tried to find a job in 2022, she applied to about 200 companies but got no response. She is a great designer, just happened to be stuck at the age of 35.I run a small company too, recently, when I saw the resumes of these good people born in 1994, I already thought I had to pass. I also interviewed some, but for various reasons, those born after 2000 became my priority
That might depend what is the job for and if it has tech barrier or not. I am at my 40s and a normal engineer, sometime I feel like hard to find a job, 20% of my colleagues got laid off last year and at my similar age and all found jobs and some even got 20-30% salary raise
The unemployment problem is serious but only when you are not looking to be a boss. As a foreigner in China, one who understands the Chinese language, and one who comes from a country where the government has not done enough in the areas of development, I will say this...I would not look for a job for a day if I was Chinese. The opportunities to do great things by yourself are huge.
The west would have you think China has an unemployment problem when it's actually the same in other countries. Many industries are recovering from the covid era.
Other videos from other channels make it seem like 50% of people are unemployed in china.. What makes this video different from all others is ur actually asking ppl about it Love asian boss bc i trust it
And in China, almost everyone can afford to go eat out well. In the US today, almost nobody can afford to go eat out anymore. We can't even afford to shop in grocery stores anymore!
@@barryzhang5292 No, it's mainly because of much greater efficiency, scale, and costs in China and Asia compared to the inflation-plagued US, UK, and EU, whose economies are all non-viable and rapidly declining. In contrast, throughout East Asia we can afford to eat out and buy things much more easily than in the West, my homeland I'm happy to have left behind forever. I'm in singapore, where the average take-home salary after-tax is 4X higher than in US, and the median wealth is 20X higher than USA, but we can all afford to live and dine out for reasonable prices. Check the median GDP PPP per person in the US and here.
@@davidrichards1741 the decline of us economy is for sure but buying things easier in asia is not reliable since us has amazon. The boom growth of singapore economy in last 4-6 years is hugely influenced by the change of HK and CH in the same period. Japan's economy is on the same situation. It cannot be taken as a example representing Asia countries. The "low" inflation still hidden by the local gov through lower HR cost.
@@barryzhang5292 Amazon is the nicest platform of all but most things on amazon are significantly more costly than what you can pay on Asian shopping portals because it's competitive and close to the source of goods. Amazon is a monopoly in US and overpriced, tho sure it's cheaper than brick-and-mortar but that's because of it's tax-free legacy since the Clinton era, which TBH is unfair now and should be repealed as it has destroyed physcial retail in the US. So notice how virbrant Asian malls are compared to the US. And ofc, Main Street USA already died years ago in contrast to Asian cities, generally speaking. Yep, it's Amazon. Sad. Amazon has spent and lost billions trying to operate in Asia and failed against its Asian competition, twice already, and I think now is going for a third time but IDK cuz nobody here uses amazon except for US expats lol.
the general take away from this video should be how societally aware and intelligent the average Chinese is on the street compared to if such interview was done in say the streets of New York.
No surprise, look at how hard they study. They also have a good support system, decent healthcare, relatively cheap housing and strong family bonds and values.
In the past decades, China has produced too many college or university graduates, much more than the social demand. While the elder generation retires from farming and manufacturing, the younger generation cannot replace them. So on one hand, China has massive unemployed youngsters who are eager to find jobs which allow them to sit in offices, on the other hand, labor cost of traditional workers and farmers are growing rapidly for shortage.
I don't get the guy who says if you graduated from an elite school these people are not willing to work as a construction worker... I mean they didn't spend all that time, effort and money to be so well educated to just install a toilet. I mean this is also a loss for society. And it would be a waste of resources. It makes no sense at all also to the people who don't have the discipline or brains to chose higher education what are they gonna do if the academics are working their job? Maybe I just misunderstood
Before you talk poorly on people who "install toilets", these blue collar workers are being paid much more than the average white collar graduate, dare I say substantially more.
He's just making that statement that people graduating from elite schools are unlikely to work as a construction worker which is a reason for them possibly not finding a job right away. He isn't tell them to work as a construction worker. Also it's mentioned that sometimes you might just need to work any job while you look for another. These are just comments and opinons. Its not like a directive
thats because they have a sustainable family support. not all chinese have a good background. especially the ones that migrate from Tier3 cities to 1st tiers
The difference is these people are hard working and looking for work. Certain country they do zero sum shopping and their full time job is burglar and robber.
but but Gordon Chang said China would crash and burn 20 years ago.... Chinese Economy is in mid transition to new industries a departure from the old arrangement. The trick is to do it as smoothly as possible, it has nothing to do with recovering from Pandemic but reforming. The pandemic did affect the economy but not severe enough for China not to recover from it.
I've kind of unemployed for one year, by kind of I mean I'm still on the company's pay roll, but I don't have any job to do or position or title. I get paid by a salary as lowest as legally possible by the company
For more authentic insights like this from Asia, you can watch some of our exclusive videos not available on TH-cam for free here: asianboss.io/yt/123-exclusivevideos
Thanks for your coverage on this topic! I'm really looking forward to another episode of the unemployment topic targeting minor cities in China. Because unemployment in China is much worse in smaller, especially aboriginal towns than in major cities like Shanghai, where governmental resources and business investment concentrates.
😭😭i work 3 jobs in the USA just to pay rent and eat. 2 jobs are delivery of food and medical device. 3rd job is caring for the elderly nursing on weekends. Can't find a decent job in the USA. I have no benefits because these jobs are all part-time. i'm 43 yrs old with a degree in business admin. I have $50k in student loan debt since i graduated 20yrs ago. My gf has 2 jobs, her parents has 2 jobs, my dad has 1 part time job and my mom passed. WE ARE ALL STRUGGLING TO PAY RENT IN THE USA!
cia shill
@@kyginger8005 where did you get the data about the smaller towns being worse. I heard completely different stories from you. People lost their jobs or cannot afford their livings in big cities went to back to work in smaller cities/towns. They got paid less but they still lived a sustainable life.
@@BloodyPandas There is no publicized data that backs my thoughts directly, just personal experience being a Chinese living paycheck to paycheck, combining with what I see and hear.
Basically the same as everywhere. There are two different unemployment situations: there are no jobs and there are no jobs you are willing/able to do. The more college educated people, the more specialized, and your expectation of job market becomes narrower.
😭😭i work 3 jobs in the USA just to pay rent and eat. 2 jobs are delivery of food and medical device. 3rd job is caring for the elderly nursing on weekends. Can't find a decent job in the USA. I have no benefits because these jobs are all part-time. i'm 43 yrs old with a degree in business admin. I have $50k in student loan debt since i graduated 20yrs ago. My gf has 2 jobs, her parents has 2 jobs, my dad has 1 part time job and my mom passed. WE ARE ALL STRUGGLING TO PAY RENT IN THE USA!
What the hell? The US job market is super good right now. My wife and I are both mid level managers, and the pay + bonus have been going up fast in the last 2 years. There are so many jobs and not enough workers that I have several interviewees who just don't show up and don't even call to cancle. This happens because jobs are so easy to get that they are not afraid to burn bridges. We Chinese Americans, having focused on advanced degrees and having high paying jobs and plentiful investment opportunities, are very prosperous.
Also, the more specialized and higher the expectations of the workforce, the harder it is for people to find people willing to work low prestige jobs. This means that these positions end up being understaffed, leading to the people in those positions ending having to work longer hours to keep up. The pay for these jobs will be lower than high prestige jobs, but they end up going up still, so the gap between them and high prestige jobs go down, but people still don't appreciate them because there is still an image that they are still low prestige. This leads to prices of the every day things that these jobs provide going up. The more accessible that it is for unemployed people to access enough money to live, the less willing that people will be to do these low prestige jobs, because why not just... not? Especially if taking something like a labor or factory job means low pay and overtime, you will not have energy to search for the kind of job that you think is ideal because you will be too busy working. If you can get by without that, and spend your time searching for the good job, this is more rational a strategy. But this effects the fundamentals of the economy.
I think the problem is actually ironically that we are too educated. Too many people go to post secondary education. Nobody wanted to do those jobs in the first place, and there was work that was better that required post secondary education. So people start to think that getting post secondary education means getting one of those good jobs. But for every 2 good job there is 8 bad jobs that need to be done to support its existence.
Ironically, what helped the west get by is they shipped the "bad jobs" to China. This helped improve the Chinese economy. Now Chinese people are getting richer. Now they ship the "bad jobs" to the rural people. But you end up either having to force people to work, or you end up in this situation ultimately. I think China tries to mange this by restricting the ability for people to migrate internally. This way you can keep some provinces poor and dependent on this unwanted work for survival.
@@xiphoid2011 Wow I'm also Chinese American freshly graduated from University and have been looking for a job for the past 4 months - if the positions that have had several interviewees not show up are still available, mind sending me the application link? Haha Thanks 😅😅
@@dannyz2560 I'm hiring pharmacists and pharmacy technicians in a major metro in Texas. We have been having trouble filling job openings since COVID started and many boomers just chose to take early retirement. This is why US is so short of labors right now. We hospitals have been stealing staffs from each other back and forth, each time the wages go up, but the labor shortage is still here after 4 years! It's a real headache for us in mid level management, but yes we Chinese and Asian Americans are enjoying the higher pay and secure jobs.
I like the philosophy , advice and positivity of the old guy and the rabbit lady.
me too
Because he is old and from local, and has nothing to worry about.
GREAT interviews as always!
Grandpa keep it sweet, simple and REAL!! Thanks☺️
In Australia, i know someone graduated from master of arts and couldnt find a job. I know some migrants who could hardly speak english found jobs in construction industry. There are jobs but no one want to do. There are people who couldnt find what they WANT to do.
It only makes sense to cater your skills to suit to the needs of the industry.
I agree with you
The issue is that person graduated with a useless degree and a masters is double useless.
@@blackbelt2000 that is exactly what happens in china. More middle class family who sent their kids to study uni , they all want to sit in the office. Whereas there are still shortage of blue collar workers. To some, working as plumbers etc are still classified as low level jobs.
If your skills and personality are better suited for something else, should try and do it. Another issue with a lot of places is sure you can get some jobs if you need one, but one that pays enough for essential expenses is a bit harder to find.
The former HR guy basically described most single men: his expense isn't much because he is single, so he can easily get by for at least 6 months. I'm not unemployed, but If I was laid off today and not paid any severance, I'd be just fine for 3 years, not because I make much, only about 40% more than the local median, but because I don't have unnecessary expenses like wife, kids, girlfriend, alcohol, cigarette and other drugs, car payment etc.
you have 3 years wages in savings ? how is that possible if your not 40+, do you live at home ?
calling kids and a wife unnecessary expenses is based
Unnecessary expenses 💀💀💀
@@Xenonarth idk about others but for a lot of us gen z getting married and anything that follows is an unnecessary expenses
@@patatedouceyaim1407 No, I'm not 40 yet, although getting close, and I live alone paying rent for now because mortgage interest rate is a bit too high these days.
4:33 the lady said "我们在小城市觉不出来“，that should be the regional dialect means "we don't feel that much(of unemployment) as we're in small town". Maybe the translator thought it's "决不出来"= “never come out”, where it should be "觉不出来“ = ”don't feel much"
I agree. It sounds like a mis-translation.
故意的
even non-native Chinese speakers can feel that the translation was incorrect, as it's obvious she said she didn't feel the effects of unemployment.
@@SADBOY-di3th我觉得倒也不是故意的，可能是真没听懂 我是湖北的，没看字幕听她说话时我也以为是绝不出来，因为我们这根本没“觉不出来”这说法
从语境前后判断是没翻错的，应该是单纯口误，就是感觉不出来的感被吞了，后面这句后面是和大城市对比所以结合这里的语境大概率是说在小城市所以不知道不太清楚的意思，前后也没表示出不离开小城市或者不去大城市的意思，因此up主翻的并没有问题
Thanks!
People who are 35 or older will have a harder time finding a job. Companies will not consider their application because they are deem to old. They’re laws to prevent companies from discriminating based on race, ethnicity and gender. There should also be laws in place to prevent age discrimination.
This is a very difficult thing, there is no way to specify such laws because it is unfair to the company
Expat living and working in China here, and I would say unenployment isn't as serious as many other countries. I have some colleagues join job interviews two or three times a week and reject offers all the time. It seems more like it's more about choosing the right job than not being able to find a job.
wumao
@@bullpup1337 westoid
Are you in a large and prosperous city in China? If you are then that could explain your observation since smaller cities and rural areas where the majority of China’s population lives have to experience more economic hardship.
@@bullpup1337 what's wrong with you. please stop trolling.
@@RealVedicAstrology I currently live in Shanghai and used to study and work in Beijing before. I have some local friends who live and work in second or third-tier cities, and I would say that the job options there are definitely not as diverse as in bigger cities, since most of China's biggest companies (especially in the tech sector like Tencent, Alibaba, ByteDance) are located in larger urban areas such as Shanghai, Beijing, Shenzhen and Hangzhou. People working at smaller cities do earn less money, but that's because the minimum wage calculation is defined by each province and whether it's in the urban, oustkirts or rural area to match the local living expenses standards. Actually living there is not bad at all and perfect if you dislike the hectic life of big cities.
For the younger generation, they tend to come to big cities to study and work since there aren't many growth opportunities in their hometowns. (By the way, 60% of the Chinese population lives in urban areas)
最后的老爷叔说的很对！灵活一点，善待自己！
Population of china is very high.so lot of Chinese people are unemployed.
Generally, a 16-year-old is considered a minor in my country of origin and should not be allowed to work full time. I live in China and own a company and I find no shortage of work or opportunities neither for me nor for employees... but it is increasingly difficult to find young people willing to work for a fix salary when they can earn more doing other type of gigs independently with no fix hours, so the current ¨unemployment¨ statistics are very biased and misleading. It is socially accepted in the USA that minors (under 18) can work as adults, instead of focusing on their education.
How much do you pay? The single biggest frustration among every one of the friends I have back in China is that none of them want to accept earning 3000-4000 in Tier 2s. Even 8000-10000 in a place like Shanghai has been low for forever, but there are still so many jobs that don’t pay enough for the life people want to live. They give up and live with parents. So, you may give plenty of opportunities, but do you actually pay the salaries your employees want?
@@financialgardening I'm not talking about myself, I'm in the industrial development field doing robotics and complex products. The salaries in my field are at a minimum of $4,000 USD and up for employees. Salaries in Shanghai are high, and that's why many Europeans and Americans look for positions and opportunities here - everything is happening here now. It doesn't matter if it's a second or first-tier city, what matters is what you can do and what credentials you have to prove it. I personally know many professionals who decided to quit the big city life and went back to their hometowns to generate much more money in e-commerce or other online gigs. That's what's really going on with the statistics - not much unemployment, but undeclared self-employment. There is also another group of self-overpraisers who can't accept positions they feel are not good enough for them, so they fill the unemployment number even when is their own choice. In China, you can get a job within a day if you want, as there is a wide spectrum of salaries based on your capabilities. The jobs you mentioned are at the lower end of the pay scale, and with those salaries, you would not be able to afford a rent on your own or even live comfortably while sharing accommodations. The financial situation would be quite tight in big cities with that.
Very true, following the ban of tiktok folks in the states don't know many young people in China use it as a serious promotion platform and so as many brands, they can easily generate ¥50k~10kper month in revenue, profit rate depends on industries, product types. With the flexibility of working at home, outside or studio, those with talents and resources are not keen on working a 9-5job regardless the earning amount, given it 5k RMB or 20k, any serious survey should counts Chinese youngth Self-employed status, they will be surprised many of them have 2nd, 3rd side kicks.
@@bonaudi why do you think people are not joining your company if you pay that much? strange
@@fion3943 Stop assuming things. I was talking about the general situation in China (I said ¨there is¨ a problem not that ¨I had a problem¨). Young professionals have high degrees and are very selective about what they want to do for a living, and many of them prioritize entrepreneurship over a fixed salary. I have no problems; I've worked with the same group of professionals and technicians in my company for over a decade.
Though there is unemployment in China, I think China is doing a great job fighting unemployment considering its massive population. China’s unemployment problem is a bit low according to this video compare to many countries with less population that have crazy unemployment rates.
Also one of the men said there are jobs but not to the standard you may want or qualify for. China Is a high-production country so unemployment will never get bad cause there is a lot of production which also needs workers.
China is also a country that encourages entrepreneurship so a lot of citizens run their own businesses instead of needing a job.
In their way, a strong single government does have its benefits. A path forward is set and metrics defined, bow it's just up to the local governments to enact it. Whereas in the west there's just lots and lots of talk and lobbying and things get shelved for years. I mean, in Sydney it took almost 35 years before the second airport finally broke ground. The train system had to be totally overburdened before expansions were started even though a review 40 years ago said that a significant capacity increase through those coming 40 years would be needed. But nothing was done for 30 years... Again
@@AvoidTheCadaver Both authoritarian and democratic countries have their own advantages and disadvantages
@@내란수괴윤두창 Are you kidding?
The older man at the end...he nailed it❤
inspiring
Yes. Life is not just only chasing for💲.
Health is no. 1 of anyone priority as without health you have nothing.
With health, one can have many options including what type of lifestyle, career and family life.
@@stevenliew2507 Young people dont understand and it is not their fault. In my chart-group with classmate, we all talk about money when we were younger. Because we still have children, house and car mortgate etc. Now we talk about health because children grown up, paid mortgage and some on use went to grave because health issues.
it's life perspective. when you are that old you have life experience and pretty much already figure out how 'things', society, people etc flows.
😭😭i work 3 jobs in the USA just to pay rent and eat. 2 jobs are delivery of food and medical device. 3rd job is caring for the elderly nursing on weekends. Can't find a decent job in the USA. I have no benefits because these jobs are all part-time. i'm 43 yrs old with a degree in business admin. I have $50k in student loan debt since i graduated 20yrs ago. My gf has 2 jobs, her parents has 2 jobs, my dad has 1 part time job and my mom passed. WE ARE ALL STRUGGLING TO PAY RENT IN THE USA!
Three of my colleagues were laid off last year in shanghai，two of them got new job fortunately in three months. The another one found a job in hongkong last week，he got alot of increase in his salary.
finance industry ?
@@내란수괴윤두창 I just want to say that your comments sounds very fake, like a rumor put together all over the Internet
I know a lot of people were expecting worse because these days the hate people have for china and its government is tough. im glad these people where honest. Unemployment is everywhere,it depends on the job you want.
The Western mainstream media either describe China as an evil superpower that is gonna rule the world soon or as a collapsing autocratic country that fakes all economic numbers
Many people have not received a good education, and their parents are no exception, so they are easily manipulated and ordered by American politicians to hate people they have never met before.
they asked biased questions😂hoping people to say thay they are suffering, and then here we go ccp's problems
Chinese look so calm, composed and articulate their thoughts very clearly & honestly.. that's so impressive!!
Didn't you find it's staged?
@@sdfsafasfsf5545 It's not staged, this is incredibly average as far as interactions go with Chinese people.
@@sdfsafasfsf5545 lol your life must been staged right? CIA bot😂
@@sdfsafasfsf5545 你说演的也没问题，bro，正所谓人生如戏，全靠演技。
t's really stupid to ask whether the unemployment rate is serious or not. . . The people you are interviewing have no idea about the real official data of China, and the people you are interviewing also live in their own small circles. Everything that happens around them cannot reflect the overall employment rate, so this kind of question is meaningless. . .
It's not that bad, it's just that young people are simply no longer willing to do certain jobs. I will upload a video on this topic on my channel too, featuring both local and foreign job seekers.
that's bs. During the pandemic, compared to the actions of sending the cash from us gov, saving the employment rate and welfare policies from euro govs, Chinese gov is sending people to take covid tests. It was printing the amounts of cash more than us gov in last four years but never into general people's pockets. of course, u didn't feel that since u were making business in China. lol
With a brand-new studio apartment costing $165/month in China (Chongqing), should not be hard to come up with money that with side hustles,
in U.S the rent would be $1650 and out of work means you would be homeless.
I wish you were exaggerating but it's 100% true. Housing is easy and plentiful in most of China. Been there 4 times for months at a time. Here in SoCal a studio will run you close to 2k. Or rent a bedroom in a house for ≈$1400...miserable experience.
@@2WheelsGood.01 I uploaded the video, Condo associations fee is maybe not included (a normal thing in China to not) but for this size would be ~$20/month.
th-cam.com/users/shorts8xI6sVxI31w
I uploaded the video of it, the ~$25 is condo association is maybe not included.
th-cam.com/users/shorts8xI6sVxI31w
@@2WheelsGood.01 I uploaded the studio tour to my shorts
@deliriumskid What does that even mean, by the warf rent is probably more expensive.U S has 600'000 homeless with no way to come up with f.l.s of $6K and paystub showing $5K/month to get approved.
Basically same thing in Canada but because China has such a massive population the unemployment problem is amplified. If you have 10+ years of experience with industry specific certifications you'll always be able to find a job.
here is not that easy, they box you into age. over 35 no matter how good u r, your chance will be much slim. for Chinese companies mostly. unless you are super lucky.
More importantly, the China government is more inclined to protect the interests of enterprises, so that China's labor law can not fully play its role so far. For job seekers, this is a double dilemma. On the one hand, whether they can find a job, on the other hand, how long they can work without being laid off.
Not the same, China doesn't import 2 million people a year.
@@bentchudy2704 It's the same everywhere. And probably even worse in very capitalist countries like US etc., where politicians actually work for the big corporate interests, not the voters who elect them.
@@bentchudy2704i would say it strongly correlates with the city you reside in and the corporate culture
I like what the old man said in the end. really a good advice for younger generation.
“Rich people have 24 hours a day. Poor people have 24 hours a day. Being kind to ourselves and living happily is success.”
It's not really true though because 24 hours are very different for rich and working people. Working people clean, cook, take kids to school, care for children and family members, work multiple jobs, and work while studying. Rich people pay others do to all those tasks for them.
But do not stop trying go up, it will came out better than not trying.
@@zarategabe
and as much as possible, be kind to yourself and don't clean, cook, care and work too hard
take enjoyment in the tasks that you do
@@zarategabe so true... even the time is the same, but the poor need to sell their most time for survival and basic needs, while the rich could spend more hours on how to live with their hobbit and passion.
Rich can decide what to do for the day , poor have to decide what they can do for the rest of the day
6:37 onwards explained the essence of the situation for many advanced countries. The economy is still like before, so the demand for the worker demographics does not match the actual demographics available, so the least competitive people become forced to either innovate or take up jobs they don't like or low pay or they are unsuitable for. But this also leads to entrepreneurship, which should gradually change the economy to require worker demographics closer to the actual demographics
The fact that they have unemployment benefits is already an advantage and a privilege on their part as other countries don't have that.
Yes they do!
No we don't@@matthewmoore6647
which countries are u referring to? Like African countries? lol
@@rpg1663 Troll or just a tool? I'll let you decide. If it's not too hard for you?
it's a communist country they have to give welfare
India's unemployment rate 8% or more and out of unemployed peeps, 83% are youths 😢. Economy is growing but not the job numbers. How bad can be the jobless Economy???
It depends on which State you are in also ,,for eg in my state of Karnataka the unemployment rate goes from a range of 0.9% -2.8% and youth unemployment will hover around 8-15%..but when you consider the whole nation majority of our youth are in UP and Bihar which do not have enough job opportunities which brings up the unemployment rate....
Situation got so messed up when you realise the unemployment rate is more in Haryana and J&K but it's people are still not poor infact many are rich but unemployment rate in up and Bihar is low but still their people are poor
High growth rate is due to Modi changing the method of calculating GDP in 2015, growth jumped from 4.5% to 7% since then. Many prominent economists had questioned the data, Central Bank governor Raghuram Rajan, Chief Economic Adviser Arvind Subramanian.....Look up article,
Is India exaggerating its economic growth? - BBC
GDP Numbers Are Mystifying, Don't Add Up -- theWire
Will India's unemployment rate count women? I have seen very few women working in India.
Because the wealth of India is controlled by mostly Brahmins
Unemployment rate is also rising in Canada. Especially the tech sector and I heard stories about some of my friends being laid off because their companies just don’t have work for them.
as always, easy to find jobs in Alberta.
@@JalomMatialol
Just go farming instead and that's the easiest way to get a job is.
My industry, games, got decimated this year. Almost 20,000 layoffs in the US
The Chinese unemployment landscape perfectly encapsulates the dangers of “Degree Inflation”. The more undergraduate, masters and even PHD degrees you have the less valuable they become in the labour market. Normalise not going to college at all and instead taking up a trade skill. Avoid wasting years of your life chasing higher levels of college education without an equivalent reward.
Chinese culture deeply values education . It’s from Confucian tradition. Even back in the dynastic periods there was a problem of too many graduates of the civil service exam for the number of official positions open
Please make a survey on INDIA.
The unemployment here is the highest in 45 years.
Rabbit lady has a very positive attitude!
rabbit lady is a boss lol.
An Asian boss you might say
The last gentlman summarized it all. Well said, bravo!
"Being kind to ourselves and living happily is success." The old man's words at the end are so positive, and I love the rabbit lady's optimism!
That's crazy how the graph can be so misleading. I've hearing about the 25% unemployment rate posted everywhere, But I never knew it was 25% including full time students. Truly unbelievable how media lie to us.
Il 25% dei giovani appartenenti alla fascia 16-25 anni
no its 25% ON TOP of that! nearly 50%!
According to different surveys, the unemployment rate in my country is between 4-5%. If the survey only counts 16-24 years old then the unemployment rate will become almost 80%. Because most of the kids are in highschool till 18/19. Except a few, most of them will continue their education. Since our country is still developing, there's no part time jobs available, the only way those university students can earn some money is through tutoring or freelancing. Also a small percentage of the students are joining content creation. They'll join the job market only after graduation at 23/24. So if those survey didn't include those external factors, then the whole result will show opposite result of the true situation of job market in my country. This is how the west mislead it's people and rest of the world. They'll make fake news about their enemies and demonize the normal people of their enemy country. Be careful of what you see on the news. There's too many misinformation this days.
Unemployment is high. Otherwise you wouldn't be seeing big numbers of Chinese with a nest egg, risking that, and their lives to get to America.
All this video shows is no one knows what's going on in China besides their own bubble bc the media is so controlled by the gov.
The Chinese government revised the unemployment measures, removed students, but the revised unemployment is still 19%. 😮 that's really high for young people.
No matter what your situation is, stay optimistic, this is the core
The last guy's word is epic.
Really good to follow
Lol. My fellow Chinese are immune to American propaganda campaigns.
yep, we felt it in Australia too, Its very depressing. I stop reading mainstream news now days.
China they dont count food staller , delivery service on the employment rate. As i know theres many youth cant find their dream job so they go do delivery service or open stall by themselves.
My nephew is going to graduate school because getting a STEM degree apparently still have a tough time getting a biology job, so he is going to graduate school to avoid unemployment and save face. Studying more, learning things automation can't do has been the human refuge for the last 200+ years since the industrial revolution. We started with elementary school, even 40 years ago high school was enough, now undergrad is barely enough, soon it will be masters or doctorates. And with each jump in higher learning, we delay our lives further. My wife and I (we met in graduate school in the US) have doctorates, but marriage and children had to wait until 30 years old. However, with shockingly fast advancement of AI in just 1 year, now with the ability to be creative, I'm really worried, not just for my nephew but my own children. In another 10-20 years will there be anything AI and robots can't do?
My wife and I talked, and our conclusion/safety net is what the Chinese culture had already made us do -- save and invest ALOT. Our discussion lead us to hypothesize that in the future there will mainly be 2 class of people: the owners/controllers of AI/robots and the rest. The majority of the people, most likely jobless, will live on some kind of social welfare with a small annual increase to maintain social stability. While the owners of the AI/robots (capitalists) will be able have control of almost unlimited wealth. The middle class, be it skilled labor or former professionals like doctors, will basically be gone. We know which side we want our children to be on. So we concluded that capital investment and accumulating wealth was, is, must be the goal in the next 10-20 years.
Of course, there is another possibility that technology may indeed become sentient and governments/nations have failed to build a safety barrier around AI. Well, in that case, money won't matter, but neither would anything else, anyone would be lucky to be alive.
Artificial intelligence will create more job opportunities, but not necessarily what you want. So maintaining competitiveness is very important
I can't say I'm surprised that the unemployment rate is highest among the college educated. Employers are sticklers when it comes to screening for past experience, and most job candidates in that age cohort will be lacking. In terms of AI's impact, the entry-level white-collar class will have their job security threatened the most. Many mundane cubicle jobs are already being wiped out. The trades will be immune to automation for a while, because robots won't be able to perform any of the complex, physically strenuous tasks that carpenters, electricians, mechanics, etc. perform.
You won't get the answer if you interview people who are still in the city, because when China's economy was good, most of the migrant workers came from the countryside. Now that the unemployment rate is serious, many migrant workers have gone home.
China's real estate is the best reflection of the problem.
Many rental properties are vacant because migrant workers have returned
The trades will only be safe for a short while. As these will be the only type of jobs people will be able to get there will be a saturation in the trade market pretty quick. So carpenter and plumber willl face huge competition in the future which will bring down wages to next to nothing.
Robots can. It's just there's so many use cases and each one needs to be trained with through software, so it will take a while because of that. Plus, there needs to be a bit of a industry presence with robotics given the construction industry are typically a later adopter of cost savings innovations.
You are correct. The entry level white collar jobs will be the first to go because it's relatively easy mentally and doesn't require robots. Another factor is the higher rate of return on investment. Since white collar workers cost more money, a $1 million AI robot only needs to replace 15 of them to break even in 1 year, while it would have do 30 blue collar worker's job. So the recent and upcoming new college grads should be very worried. But even higher level white collar professionals like doctors or low level blue collars are not far behind. Just see how Figure 1 is able to understand abstract concepts and do human like work is truely scarly.
This is a stereotype but Chinese who born after 1996 may not be as diligent as people who born prior to 1996, while most of hiring managers born in early 90s or 80s.
According to some statistics, in china this year, unemployment for 18-29 years olds increased, but for 30-59 years olds, it decreased.
That speech by the old ma at the end was really moving
0:03 this location is the second largest apple retail store in the world, which just opened last month.
For those don’t understand Chinese… I just want to say they are all so well articulated 🎉.. impressive
I think the woman at 4:39 and the man at 6:58 summed it up best. It's not that jobs aren't available, but the jobs that are available might not be acceptable to the people looking. Although to be fair, depending on their stage in life it may be difficult to continue their standard of living on those unfavorable jobs. But of course I'm speaking as someone who knows very little about the Chinese economic environment. 😅 But it sounds a lot like American culture, quite shockingly. I also like the girl at 10:26, her answer was adorable. Haha
Same in every Asia country, not only in China
7:17 When you obey this man's advice,namely being employed first and choosing a job later,you will find all the options are based on your first job.
why?
@@fintech1378 That's Chinese labor market
That's probably true in US or EU, but Chinese job market is way way more vibrating than you think.
@@Wilson24678 poor prisoner
@@Wilson24678 lolll obviously you haven't seen the chinese legal market
How is unemployment possible in China. So many US jobs in America closed in America to be open there in rhe past 20 years. Must be the population getting too large and older
North America's got a lot of jobs, but you will need 3 or 4 jobs to keep afloat. We are getting killed by inflation.
Primarily driven by lack of supply, especially in essentials like housing. All while corporations report record revenues. Our wallets circle the drain of a deliberate profit-price spiral.
depends where you live. inflation has risen prices, no doubt, but most people I know, including young people have no problem finding jobs that can provide for all their living expenses.
US Fed printed too much money.
Chinese people are so smart, balanced thinking and calm.
Thank you ❤
愤慨@@sheldorcooper7606
I'm sure this depends very heavily on which Chinese city you are in.
my advice to those currently unemployed : just take whatever job available that you can do (just think of it as stepping stone). while its not bad to desire job that you find suitable / higher pay, save idealism for when you actually have option. when there no option, dont be picky
the elder in the end is a total chad.
For real😂
Being middle aged, what he says is inspirational but practical. The truth is just working hard and staying positive won't make a good life. You must couple hard work with a good plan to have a good life. Look at us Chinese Americans. We prospered far beyond even white Americans. Meanwhile you have Hispanics and African Americans that stays poor even though they have been here longer and were richer than us when we chinese first came here. Blacks and Hispanics work very hard too, but the difference is they don't make long term education focused plans. This is why we Asian Americans went from the poorest to the richest race in the US in just 30-40 years, while they remain poor even after more than 100 years.
The HR guy spoke well… when companies are hiring they’re not looking for “the perfect applicant,” they’re just looking for someone who they can train to do the job ASAP. Fresh college graduates will have high standards and don’t want to work a job with a title/ salary that they think is beneath them or their education level.
As a tech founder in India, surprisingly it is the same. Fresh college grads have high expectations, the brainwashing that Gen Z is different etc. Very hard to find freshers with right attitude. It is not their fault. 'Education' & 'trainings' have spoiled them and made them less emploayable.
@@ishwarabhatbecause you pay 3 lpa in 2024
@@deadgamer4140 For the benefit of those who listen, few points: I understand how many socialist activist influencers are peddling some stories. Few points : (a) From 2004 to 2024, fresher competency has not increased. (b) It costs more to train freshers because the experienced members are more expensive now. (c ) Attitude and behavior don't depend upon level of CTC once a job is accepted. (d) Many of the top leaders of large companies say that irrespective of salary level, freshers are too distracted. Many think they already know everything etc. Now these companies, pay much higher. Due to these factors, many reputed companies are delaying onboarding. I hope freshers stop watching content of self-serving influencers.
The unemployment situation in China is completely overblown. It is in fact way easier to find work in China than it is in the west. The high youth unemployment is because of several factors,
1) Family finances are much more lenient now, particularly in the cities. This has led to lying flat for many youths who cannot find ideal jobs. Most families are in the 4-2-1 arrangement in the cities from the one child policy, so many youths stand to inherit substantial resources without having to do anything. Many don't have the need or motivation to grind out a difficult career.
2) Record numbers of Chinese students are going to graduate school and investing in further education which leads to a later entry into the work force.
3) The general social trend to a much later entry into the work force to to the growing sophistication of modern high value add jobs is taking place everywhere. In China it is happening far faster than it did in the west.
The reality of the labor situation is this. High wage, high value added jobs have gotten more competitive with the slowed growth in the past 4 years since the pandemic. Young people are particularly feeling the squeeze to land their ideal dream jobs. However generic jobs are extremely plentiful. With the exception of construction which used to be red hot, manual labor jobs are booming due to the chronic shortage of workers. Seasonal work is also extremely plentiful in Chinese cities. Outside of almost every fast food restaurants you will see job wanted for cooks and waitstaff. Sales people and service staff wanted adds are also outside of shops all over the city. The issue is just are you willing to work in these menial labor jobs in the services sector.
This is not like in Canada for example where 300 people line up to apply for jobs at Walmart and can't get them. The equivalent of Walmart in China always has an unlimited number of jobs and not enough candidates.
I don't think the point is how bad it is in absolute terms, but how abruptly it's changing. Also, working in a Walmart is much less a class issue in Canada than in China. Relatives in my family paid 300k to get a niece of mine a 2k/month job so they get the slightest sense of relief. It is not the same
@@TheVampB Working at Walmart in Canada is for sure a class issue. You will not find any well to do families with any family members that work at Walmart. Also if you knew the people that worked at Walmart which I having worked at these places while in school do know, you will know they are not normal middle class people. People that work at Walmart are mostly desperate lower class people that can't rub two $50 bills together. The wages from lower end retail and service jobs in the US and Canada are not living wages. Also when times are bad you cannot just get extra shifts to work extra time to make ends meet. You can get hundreds of ppl lining up for McDonalds jobs at the worst of times.
Things are changing but the speed is normal for China. Things go boom and bust in weeks in China. Ppl go from making a million dollars in one year to losing a million dollars the next year. That's just how the unfettered market system for the service sector works in China. If you want no income volatility and just high incomes that doesn't exist in China or anywhere else.
The problem with Chinese people and their insecurities is they want a guarantee for everything. They want to buy their kids a guaranteed high income for life and complain if they can't buy this or it is too expensive. This kind of thing doesn't exist anywhere in the world. You can't buy your kid's way into being a doctor or a AI engineer at google. Your kids have to earn that on their own. If you buy their way to live in opulence the only way to do it is by giving them a trust fund. Any other way will cost you exponentially more money. For example you can buy your mediocre kid a degree at Stanford for 2 million and put him in a high paying job at a company that you generate millions of dollar of income for. But then your just spending 10 million dollars to buy 4 million dollars of value. The only thing you can arbitrage between China and the West is that the competitiveness of the average worker/student is significantly lower outside China. If you talk about how the average uncompetitive person is doing. They do even worse in the West than in China. The bottom 20% of the population out here live extremely poorly.
4:33 she means 觉不出来 as in 觉察不出来 “couldn't feel it" not 绝不出来 ”never come out“
not just China, but all over the globe. But China has it smoother than a lot of countries I think
Nope, much worse than other countries. American unemployed is 3.6% for example
😭😭i work 3 jobs in the USA just to pay rent and eat. 2 jobs are delivery of food and medical device. 3rd job is caring for the elderly nursing on weekends. Can't find a decent job in the USA. I have no benefits because these jobs are all part-time. i'm 43 yrs old with a degree in business admin. I have $50k in student loan debt since i graduated 20yrs ago. My gf has 2 jobs, her parents has 2 jobs, my dad has 1 part time job and my mom passed. WE ARE ALL STRUGGLING TO PAY RENT IN THE USA!
@@michaelgothenburg364that’s because US also count any form of employment, such as casual. China counts full time or part time. They don’t count delivery services
@@michaelgothenburg364 3.6％ is the overall unemployment rate, not youth unemployment rate, the unemployment rate of China is about 5% still higher than USA though
@@michaelgothenburg364 The US is on another level, you can't really compare...
Great interview. I really enjoyed watching it. The older man at the end was gold.
But many Japanese consulting firms is opened in china and still unable to hire to their quota. Why nobody say anything?
The last is the best, everyone should listen to the senior guy in the end, very wise and positive, I agree with him 100.
Hi from Singapore. The relevant thing is China has no inflation while US suffers runaway inflation leaving most people hopeless! In china, 85% of the people own their own homes. But in the US today, almost nobody under age 40 owns their own house and they never will.
FACT: China enjoys the highest rate of home ownership among all major nations.
@@davidrichards1741 it's not china，but Singapore
@@weiwei7109 Yeahbut US thinks it's the same. US senators accused the Tiktok CEO, who/s singaporean, of being "CCP" and used that to justify the senate banning it.
@@weiwei7109 the reality of the ban ofc is different, twofold. One, it's plain theft. Two, they wan power to control and censor its content. No more gaza videos for example. They don't want your eyes to see the truth.
@@davidrichards1741 then go check the data of debts from local gov and real estate developer. do u think who will pay for it?
Once you strip out geopolitics people are the same everywhere, they just want to have a good job, financial stability and the time to lead a good life.
Like old uncle said, being kind to onself and living well is success
Really enjoyed this segment. I think because China's economy is dynamic and not a fiancialized economy, the variations in the sentiment seems emblematic of that. The attitude of 'lower your expectations' i think can be better characterized as step back and gain perspective; regroup. CNA Insider had a mini doc a couple of years ago of young Chinese returning to the countryside and redefiing their expectations on careers and livelihood there (as several folks mentioned). This was an illuminating behind the numbers segment. Thank you. I'd love to have a set of interviews on the laying flat and let it rot movements. And how are people responding to the population decrease--as the young man in the end mentioned.
Good reporting and gives me a better idea of the unemployment in China .
只要你肯吃苦就有吃不完的苦🎉
Same goes for everywhere
不肯吃苦的才有吃不完的苦😂
如果你不想爬起来，没人会逼你爬起来，生活变好不是靠中彩票，如果信了不想吃苦的鬼话，那一辈子也就那个样子了。
@serriajohn Nope, the younger generation in China doesn't think this way, so I don't think the U.S. needs to do anything to stop China, they will collapse in the future.
The main problem is entry level job pay adjustment, a few year ago, you can enter an company with 8000+ salary and now the entry level jobs have gone down to 4000-5000, the recent graduates doesn’t want to take the low paying jobs because they still think 8000+ jobs are out there
I think unemployment in China is probably a lot like America because of country size and population, where in employment or lack of it will depend on where you live. Some places there'll be high unemployment and in some cities there's an abundance of work. I also suspect that some graduates, just like in many countries won't or aren't prepared to take work that isn't in their field of study they did at University. I was always taught it's better to be in work and looking for a new job than out of work and looking. Employers are more likely to more favourably on you if you're working even if it's in a job that's not related to your qualifications, it shows to them good work ethic.
What I found interesting when the subject of Ai came up and they didn't think it was an issue, as like they stated it's in the early stages of the tech. Yet ask the same question in the West and the response would be the complete opposite.
Some people are obsessed with their educational level and neglect their majors. In other words, their majors are easier, so competition in society is more intense. My cousin is a master's graduate in materials science, who lives in a small city in China and works for a private chemical enterprise. His salary exceeds more than 90% of people in China, including Beijing and Shanghai.
Many undergraduates in China will go on to further their level of education because survival is not a major issue for them, and their families will continue to provide for them until Generation X decides it is time for them to go to work. So they will choose to further their education instead of looking for a job.
thanks for the interview
Amazing hat.
If "job" refers to holding a position in a company, then the current youth unemployment rate in China should be relatively high. But if it refers to making money, then the unemployment rate is much lower. Set up a street stall to sell things, babysit for others, use your skills to teach, use the Internet to make money, or change your life in another city... There are so many freelance jobs to choose from. In China as long as you go out and find something to do, you can always make money.
I can really not understand those guys saying something like.
I had a job but I resigned during the pandemic.
I mean the last I wanted was losing my job during the pandemic.
During the pandemic, job market was not affected in China. So they are able to resign and find a new job.
I resigned before the pandemic, best decision I ever made :)
China is a large country, not everyone has been affected by the pandemic, and people in many areas continue to lead normal jobs and lives.
大部分被裁员或者其他情况失去工作，都会说自己辞职了，因为这样会好听些。
Where was the street interview conducted? I believe the survey could be vary a lot across different regions in China. Some eastern provinces in China, which are close to the major harbors for international tradings, may have a higher employment rate due to the stronger economy, whereas the remote provinces on the western or northern side are facing a more difficult situation I believe.
A large proportion of Shanghai's population comes from other provinces, and it is likely that none of the interviewees are locals. They emphasized their assessment of the unemployment rate of their friends, including their hometowns!
@@不才多指教 seems like you just made up a delusion for yourself. Usually even if one man is a newcomer, he would entitle a precondition before answering, like "in my hometown...".
Good advice from the last guy.
Education is pushed highly in the U.S. and in China both are equally expensive, yet you have to pay back your loans with the job you get after college. The lowest paid jobs are determined by minimum wage. The highest minimum wage In the U.S. $17. 00 in DC. In China represented dollar conversion is in Beijing at $3.20. In China it would take you forever to pay back your student loan at minimum wage, because you are not working in your field of study. There is one major difference, in China you can be arrested for being delinquent on your loan payments.
Chinese student loans have no interest and it is easy to apply for deferred payment. When you graduate and are ready to repay the loan, the bank will encourage you not to care about financial problems and get a master's degree. To be honest, Chinese banks are state-managed and they pay more attention to social indicators than operating profits.
I have never heard of anyone being arrested in China just for taking out a loan, not even Mr. Xu Jiayin who owed 2 trillion, but China has a credit system, which is also the source of the Internet social credit meme. If your loan is not paid, you will be restricted from using airplanes and high-speed trains, as well as applying for high-tuition international schools. I
What a great interview. I believe the employment in every town or city is just like Shanghai. Most people can get a job easily and the government provides financial aids to everyone nationwide.
My wife tried to find a job in 2022, she applied to about 200 companies but got no response. She is a great designer, just happened to be stuck at the age of 35.I run a small company too, recently, when I saw the resumes of these good people born in 1994, I already thought I had to pass. I also interviewed some, but for various reasons, those born after 2000 became my priority
That might depend what is the job for and if it has tech barrier or not. I am at my 40s and a normal engineer, sometime I feel like hard to find a job, 20% of my colleagues got laid off last year and at my similar age and all found jobs and some even got 20-30% salary raise
The unemployment problem is serious but only when you are not looking to be a boss. As a foreigner in China, one who understands the Chinese language, and one who comes from a country where the government has not done enough in the areas of development, I will say this...I would not look for a job for a day if I was Chinese. The opportunities to do great things by yourself are huge.
i see china people are more open and honest than before. Keep it up
We are always like this, it’s just how the US media keep bashing us. And they are CIA funded
@@moneymoneymoney335The CIA doesn’t have to do anything to make you look bad little pink, you do that quite well without our help 😂
@@pmcpegasus the CIA has spent so much money one their propaganda
The west would have you think China has an unemployment problem when it's actually the same in other countries. Many industries are recovering from the covid era.
You need to lower your standards is both a very practical and depressing advice
The unemployment problem in China is complex; most of the people here are looking only for high paying jobs only
Seeking a job isn't hard. The hard part is that everyone wants an easy job with high pay.
By easy, do u mean white collar jobs?
But it won't make sense for college educated people to work blue collar jobs either 😅
Other videos from other channels make it seem like 50% of people are unemployed in china..
What makes this video different from all others is ur actually asking ppl about it
Love asian boss bc i trust it
The first girl looks like actress in firework of my heart
No, more like 陈都灵
我好喜欢最后那个老爷说的，谢谢🎉🎉
And in China, almost everyone can afford to go eat out well. In the US today, almost nobody can afford to go eat out anymore. We can't even afford to shop in grocery stores anymore!
that's only because the low cost of HR in china. Go check the salary of foodservice industry in china
@@barryzhang5292 No, it's mainly because of much greater efficiency, scale, and costs in China and Asia compared to the inflation-plagued US, UK, and EU, whose economies are all non-viable and rapidly declining. In contrast, throughout East Asia we can afford to eat out and buy things much more easily than in the West, my homeland I'm happy to have left behind forever. I'm in singapore, where the average take-home salary after-tax is 4X higher than in US, and the median wealth is 20X higher than USA, but we can all afford to live and dine out for reasonable prices. Check the median GDP PPP per person in the US and here.
@@davidrichards1741 the decline of us economy is for sure but buying things easier in asia is not reliable since us has amazon. The boom growth of singapore economy in last 4-6 years is hugely influenced by the change of HK and CH in the same period. Japan's economy is on the same situation. It cannot be taken as a example representing Asia countries. The "low" inflation still hidden by the local gov through lower HR cost.
@@davidrichards1741 meanwhile u really underestimate how easily for citizens from developed countries to have opportunities in the Asia area.
@@barryzhang5292 Amazon is the nicest platform of all but most things on amazon are significantly more costly than what you can pay on Asian shopping portals because it's competitive and close to the source of goods. Amazon is a monopoly in US and overpriced, tho sure it's cheaper than brick-and-mortar but that's because of it's tax-free legacy since the Clinton era, which TBH is unfair now and should be repealed as it has destroyed physcial retail in the US. So notice how virbrant Asian malls are compared to the US. And ofc, Main Street USA already died years ago in contrast to Asian cities, generally speaking. Yep, it's Amazon. Sad.
Amazon has spent and lost billions trying to operate in Asia and failed against its Asian competition, twice already, and I think now is going for a third time but IDK cuz nobody here uses amazon except for US expats lol.
the real problem is not to find a job but to find a job that deserves over ten years of study
the general take away from this video should be how societally aware and intelligent the average Chinese is on the street compared to if such interview was done in say the streets of New York.
No surprise, look at how hard they study. They also have a good support system, decent healthcare, relatively cheap housing and strong family bonds and values.
In the past decades, China has produced too many college or university graduates, much more than the social demand. While the elder generation retires from farming and manufacturing, the younger generation cannot replace them. So on one hand, China has massive unemployed youngsters who are eager to find jobs which allow them to sit in offices, on the other hand, labor cost of traditional workers and farmers are growing rapidly for shortage.
I don't get the guy who says if you graduated from an elite school these people are not willing to work as a construction worker... I mean they didn't spend all that time, effort and money to be so well educated to just install a toilet. I mean this is also a loss for society. And it would be a waste of resources. It makes no sense at all also to the people who don't have the discipline or brains to chose higher education what are they gonna do if the academics are working their job? Maybe I just misunderstood
Before you talk poorly on people who "install toilets", these blue collar workers are being paid much more than the average white collar graduate, dare I say substantially more.
misunderstood, he's saying the same thing as you.
He's just making that statement that people graduating from elite schools are unlikely to work as a construction worker which is a reason for them possibly not finding a job right away. He isn't tell them to work as a construction worker. Also it's mentioned that sometimes you might just need to work any job while you look for another. These are just comments and opinons. Its not like a directive
Perhaps they are not what they call elites
@@conocosz I don't talk poorly about that... in fact my partner does that for a living 😉
Chinese still have the privilege to refuse certain jobs, it means the living cost is still manageable.
thats because they have a sustainable family support. not all chinese have a good background. especially the ones that migrate from Tier3 cities to 1st tiers
Nice!
Come to India most of young are unemploymed
@adolft_official oooooooooooooo
The difference is these people are hard working and looking for work. Certain country they do zero sum shopping and their full time job is burglar and robber.
I love the cover girl
but but Gordon Chang said China would crash and burn 20 years ago.... Chinese Economy is in mid transition to new industries a departure from the old arrangement. The trick is to do it as smoothly as possible, it has nothing to do with recovering from Pandemic but reforming. The pandemic did affect the economy but not severe enough for China not to recover from it.
“努力就能成功 一下找不到工作就休息一个月，旅旅游”，最后那些鼓励的话也就+5%的“衰退”经济体的人说得出来😅
I've kind of unemployed for one year, by kind of I mean I'm still on the company's pay roll, but I don't have any job to do or position or title. I get paid by a salary as lowest as legally possible by the company
It's ok
In india teachers make 13k per month
样本量太少，且只在上海采访，没有代表性。 不过还是感谢制作
是的。听说沿海城市和内地乡镇贫富悬殊，简直是天壤之别。所以在上海采访没有代表性。
Thats always been the problem with Asian Boss
@@お節介じいwuhan 🦇🍜
也没办法，总不能中国每个地区都找一个城市做调查。
🦇🍜🥢
I always appreciate our elders advice. Since they are further down life's journey they know better. Don't worry so much and take care of your health.
Here before the cia bots
A bot with the username @bullpup1337 is already here.😂that bot is on every china related video spreading misinformation.
什么是cia bots？
Says chinese bot
Ms. Bunny Ears was spitting straight wisdom 👏👏