China export industry might be suffering from labor shortage, but its large number of university graduates find it hard to get a job. A temporary problem, says deputy director Zhang Juwei of the Chinese Academy of Social Sciences (CASS) in Business Week, although he is not underestimating the current problem.
In Business Week:
Already, the government is claiming a small victory of sorts, with the Education Ministry announcing recently that the rate of employment for recent graduates rose from 68 percent in 2009 to 72.2 percent this year. “As the economic structure changes, more suitable jobs for graduates will be created,” says Zhang Juwei, deputy director at the Institute of Population and Labor Economics at the Chinese Academy of Social Sciences. Although Zhang may be right, that scenario is little comfort to the more than 25 percent of recent grads still hunting for work.