Hi everyone, today I'm sharing with you my recent participation in campus recruiting for recent graduates.
I just participated in a recruitment exercise for a state-owned enterprise engaged in computer system development. For this year's recruitment, the plan was to admit 2 people, and after the initial screening and written test, more than 300 people entered the interview, almost all of whom were 985 or 211 graduate students.
This gave me some insight into the interview process.
The first point is that there has been a huge increase in the number of students who want to enter state-owned enterprises. Graduates from prestigious schools, which were rarely seen before, now account for almost 90% or more. Provincial SOEs, which did not receive much attention, have become more and more popular among students since the epidemic.
The idea of seeking stability is no longer exclusive to girls; boys have not been shy about expressing similar views. One guy put it bluntly: he worked for two years after graduating from college and then went on to graduate school. Now almost 30, he doesn't want to risk layoffs after less than ten years of work.
Another phenomenon that struck me deeply is that the current financial industry is not as attractive to fresh graduates as it used to be. One-third of the candidates interviewed have already gotten the bank's offer, before the financial industry represents a high income, now more performance pressure, almost all candidates are willing to give up the bank position in order to stabilize the position.
The last point is the fierce competition that a large number of people inevitably brings. Because the number of applicants is too large, the screening conditions are more and more harsh. For example, graduate students are 985, but also look at the undergraduate is not a prestigious school; good academic ability, but also have to examine the ability to express and comprehensive quality, there is not enough internship and project experience.
Behind these phenomena is the recent growing problem of youth unemployment in China. The National Bureau of Statistics (NBS) released statistics on September 20 on the unemployment rate by age group for August reaching 18.8 percent, up another 1.7 percentage points from July. This is the second consecutive month of increase since June's 13.2 percent. This is not only a record high for this year, but also reflects the multiple economic challenges facing China.
As we can see, the number of graduates continues to increase, with nearly 12 million college students graduating in June 2023, further intensifying competition in the job market.
The paradoxical rise in the youth unemployment rate is also worrying. It is logical that the unemployment rate should fall as time goes by and graduates find jobs, but the fact that the unemployment rate in August was even higher than that in July suggests that the problem is far more complex than we have imagined.
In addition, many people have begun to question the credibility of the official data. It has been argued that even though the official method of statistics has been adjusted to exclude school students, the unemployment rate is still close to 20%. This means that one out of every five young people is unemployed, and the structural problems behind this are very serious, reflecting deep-rooted economic problems such as slow industrial transformation and a mismatch between supply and demand in the job market.
After the rapid growth of China's economy, we are now seeing the accumulation and eruption of economic problems. For young people nowadays, they did not catch up with the golden period of China's economic development, and they have to face the challenge of economic downturn as soon as they enter the society, and they do not know what kind of economic environment they will be facing in the following ten, twenty or thirty years.
