Description
Although a nationwide labour survey did not include unemployment rates, we will look at the Chinese labour market using statistics from job placement services.1 According to the latest statistics on job offers and applications, as of the January-March quarter of 2014, there were 1.293 million young job seekers who graduated in the last year or earlier but had yet to find a job through employment agencies in 102 major cities (MHRSS 2014). As the population of these major cities accounts for approximately 46.7% of the total population of large and mid-size Chinese cities, we can estimate that the number of young job seekers who have graduated, but have yet to find a job, totals more than two million.
Using data from the survey, I also tried to estimate the unemployment rate in those 102 major cities.
Explanation & Answer
Attached.
Running Head: HOW TO REDUCE UNEMPLOYMENT IN CHINA
How to reduce Unemployment in China
Student’s Name
Institutional Affiliation
1
HOW TO REDUCE UNEMPLOYMENT IN CHINA
2
How to Reduce Unemployment in China
Introduction
Youth unemployment is one of the biggest challenges facing many developed and
developing countries. As youth unemployment rises, it is becoming possible to imagine of
future employment problems and a generation at risk. Unemployment rates differ from
country to country and from generation to generation. In many developed nations,
unemployment rates are due to a huge number of elderly citizens in comparison to the youth
while in many developing countries it is due to a huge youthful population within few job
opportunities available. In other countries, it is possible to find a multiple of reasons as to
why we have high unemployment rates. Over the last five decades, China has grown from a
developing country to one of the world’s largest economies. However, regardless of this, it is
important to note that unemployment rate is still relatively high in china in comparison to
other developed countries. Because china does not follow internationally accepted standards
for unem...
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