China Stops Publishing Employment Data, Outlook Grim

Job prospects for fresh grads in China are very slim

China's expectations that its economy would bounce back after all its Covid-19 restrictions were lifted did not come to fruition.

Instead the economy is sputtering, further exacerbated by massive property developer Country Garden, that may default on bank loans unless it delivers some 100 million completed apartments across the country soon. If it does not attempt to pay back its loans, it could cause China's financial outlook to fall even further.

Another concern is its recent graduates are unable to find jobs. The latest figure is that the unemployment rate for 16 to 24 year olds is now a record 21.3 percent, and it has risen each month this year.

Govt not releasing unemployment data now

It's gotten so bad that the government has announced it will not release this information anymore, causing speculation that China's economy is not doing well, and fears that kind of data could be reason enough to cause social unrest -- something Beijing deeply fears.

And young people have reason to be angry -- they have been stressed out since senior high school to prepare for the dreaded gaokao or university entrance exams. If they pass and get into tertiary education and then graduate with no job prospects, then what is the point of even going to university?

As a result many young people are "lying flat", rejecting the work ethic of working long hours, and overachieving -- for what? 

Now with less chances of finding a job after graduation, more young people will be joining the ranks of the "lying flat" cohort. That in turn has led to slowing consumption, because the unemployed won't exactly be shelling out for luxury handbags or designer clothing, let alone even attempting to buy a home.

Part of the reason for such high unemployment numbers stems from China's zero-Covid policy, interrupting students' studies for over three years, and resulting in hardly any opportunities for internships which usually lead to jobs. 

Getting a job is like winning the lottery

Competition is fierce for "iron rice bowl" jobs in the civil service. Last year a record 2.6 million people applied for only 37,100 entry-level positions. It's like trying to win the lottery.

However, there are jobs -- in construction and transportation -- which migrant workers are qualified to do, while graduates aren't willing to do these blue-collar jobs after having studied four years in an ivory tower.

Chinese leader Xi Jinping's response? "Eat bitterness". Not quite sage words of advice from Xi Baba the next generation want to hear...

The Challenges of Uprooting to Canada

Transition from Hong Kong to Canada not that easy

While it is great the Canadian government is offering specific pathways to permanent residency to young Hongkongers, many of the ones that are here are having a tough time.

Generally speaking, these people in their 20s have either recently graduated from university or have one or two years' working experience. As a result they have not accumulated much savings when they come to Canada.

Many young migrants feel lost in Canada

Many of them are overwhelmed, having to start fresh with limited resources, as they find everything is expensive, from rent to food and necessities. One told a friend that she only had C$50 left to buy food. I wondered how she managed to get enough nutrition everyday.

As they don't have many qualifications or work experience, many of these young people are stuck in retail or hospitality jobs, earning a low salary with few benefits until they become eligible to become a permanent resident.

But perhaps most importantly, many here are lost and wondering what they are doing here. Many left because of the repercussions of the 2019 protests, or they did not see a future for themselves in Hong Kong. However now they are wondering if they made the right move and if they are stuck in Canada for good.

Feeling lost can be scary and undermine one's self-confidence. This same friend told me of young people who were very depressed, some of them to the point of being suicidal which is shocking and sad to hear.

Ho struggled to pay for rent and food in the UK 

It reminds me of the 27-year-old woman Fion Ho Yee-king who died by suicide in November 2022 in the UK after struggling to afford to pay her rent and food. 

Ho had a Master's degree in international affairs, but could not find a better-paying job, and was forced to live in a flat share that she described as unhygienic. She also had to choose between eating either lunch or dinner each day to save some money.

Is the Canadian government aware of these young people in the country struggling to make ends meet?

The sudden migration of people from Hong Kong has left many of them unmoored -- they did not choose to leave their hometown -- the government made repression in the city so unbearable that they didn't have much choice but to leave.

Hopefully these young Hongkongers can seek help from NGOs that help immigrants settle, get help with finding food, and know they are not alone.

Fact of the Day: Record Unemployment for Young Chinese

The job prospects for young Chinese are very slim this year

The unemployment rate of young people in China between the ages of 16 and 24 is at a record 20.4 percent. That means one in five young adults does not have a job.

On a social media and e-commerce app called Xiaohongshu, users are voicing their fears, frustrations and panic about the situation.

Part of the reason is the economy is not bouncing back after zero-Covid was lifted in China, as non-Chinese companies that used to depend on the mainland turned to other supply chains. This resulted in a lot of adults being unemployed. 

The unemployment rate is at a record 20.4 percent

Exacerbating the issue is 11.58 million college graduates will be trying to find a job this summer.

This does not bode well for China's economy, but more importantly the morale of young people who are the next generation, for the most part raring to go and keen to work.

How will the State Council solve this massive conundrum?

Previously the government kept young men with little education employed as security guards standing all day in front of buildings and businesses.

They received a tiny salary, meals and board sorted as well as uniform. At least it kept them busy everyday.

But what now? Many now have university degrees and a slowing economy. It's a dangerous combination.

Young People Want to Leave Hong Kong

Young Hongkongers want to leave

Looking at the calendar it's not April 1, but this is quite a striking headline coming from Oriental Daily.

The top headline says: "Half of all Hongkongers want to leave", and below that, "Willing to leave even if their English is poor".

The survey was conducted by the Hong Kong Association for Academic and Teaching Exchange on 503 people, most of whom were high school students.

Students feel they have no future in Hong Kong

The article says Hong Kong's poor governance and draconian anti-epidemic measures in the past three years have made people's livelihoods miserable, the economy tanking. The story adds professionals and highly-educated elites have already left the city.

Seventy-one percent of those surveyed have thought about going abroad to study, and 38 percent intended to work overseas.

While 95 percent think it's important to have good English to go abroad to work or study, 36 percent think their English is poor, 49 percent think it's average, while only 15 percent think their English is excellent.

The most common reason for wanting to leave is life pressure at 57.5 percent, followed by the political environment at 51.9 percent, the economic downturn at 31.4 percent, and lack of job opportunities at 31.2 percent.

The article quotes social sciences lecturer Chan Wai-keung of Hong Kong Polytechnic University who says with property prices so high, it affects young people's thinking about their futures. 

They are willing to leave even if English is poor

If those with good jobs need to spend a good chunk of their salary on mortgages, then those with lesser prospects feel their chances of social mobility are very slim and would rather want to try their luck elsewhere. 

This has been a common refrain for decades, but with opportunities shrinking, young people feel that even if they did work to the bone, they still wouldn't be able to own a flat... so what's the point?

The issue is particularly acute in Hong Kong, but also in many other places around the world, including Vancouver.

So while these young people hope to get a new start elsewhere, they might be shocked to find out housing prices are out of reach globally...