'Rotten-tail kids': China's rising youth unemployment breeds new working class
'Rotten-tail kids': China's rising youth unemployment breeds new working class
BEIJING (Reuters) - Rising unemployment in China is pushing millions of college graduates into a tough bargain, with some forced to accept low-paying work or even subsist on their parents' pensions, a plight that has created a new working class of "rotten-tail kids".
The phrase has become a social media buzzword this year, drawing parallels to the catchword "rotten-tail buildings" for the tens of millions of unfinished homes that have plagued China's economy since 2021.
A record number of college graduates this year are hunting for jobs in a labour market depressed by COVID-19-induced disruptions as well as regulatory crack-downs on the country's finance, tech and education sectors.
The jobless rate for the roughly 100 million Chinese youth aged 16-24 crept above 20% for the first time in April last year. When it hit an all-time high of 21.3% in June 2023, officials abruptly suspended the data series to reassess how numbers were compiled.
Any tankies wanna take a spin on how this is actually a good thing?
No it's s eben easier: Must be western Propaganda, Source not believable.
Looks like the actual spin was "this is normal and happens everywhere, I see no problem".
Isn’t making up guys that don’t exist so you can feel intellectually superior just the best?! 😀
Definitely the worst part of using Lemmy. As someone who lives in Taiwan it's quite annoying getting gaslit by a bunch of cosplayers in random threads.
Yeah. The good news is they're harmless because "we're the bad guys" has the exact opposite of mass appeal. Flat Earthers are more likely to cause real-life political change, haha.
It's all just a 5D chess move by Dear Leader Xi. You filthy capitalist pigs won't understand.
This they will say it's the US's fault, for corrupting China with capitalism.
They'll link you to an essay that goes on forever and quotes dozens of philosophers. But it doesn't actually address your question and it is completely divorced from any real-world data.
What’s there to spin? Youth unemployment is a problem many countries struggle with. China isn’t exactly unique in that regard. According the world bank, China’s youth unemployment is rather unremarkable and is actually lower than many European countries.
Edit: a link to the world bank which was already cited but hard for some people to find https://data.worldbank.org/indicator/SL.UEM.1524.ZS?most_recent_value_desc=true
Citation needed.
Wait here's one!
Looks like youth unemployment in Europe is very comfortably below China's at around 14% vs China's 21%. Also notably the European data has been trending down.
To be fair though we don't know what the current rate is in China because they stopped publishing the statistic for some reason.
Ahhh, there he is.
Please write :
:)
Upvoting. They may not like the answer but this is what they asked for.
They did it, they summoned him