China's Unemployment Crisis: 1 in 5 Chinese Citizens Out of Work

China’s Unemployment Crisis: 1 in 5 Chinese Citizens Out of Work

Imagine graduating from college with a degree in finance and a promising job offer at a major software firm, only to find out that your offer has been rescinded because of the pandemic.

That’s what happened to Cherry, a 22-year-old from Wuhan, who is now one of the millions of young Chinese facing a bleak job market.

China is facing a serious unemployment crisis, as one in five of its citizens are out of work. The official unemployment rate is 5.1%, but this figure does not reflect the true extent of the problem.

Many people are underemployed, working part-time or in low-skill jobs. In this video, we’ll explore why China’s economy is struggling to create enough jobs for its youth.

In today’s video we look at China’s Unemployment Crisis: 1 in 5 Chinese Citizens Out of Work

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