Think the job situation is tough in the U.S.? It isn’t so rosy in China either.
I’ve also chronicled the surge in factory closures, leaving millions of factory workers out of work. According to theChinese Academy of Social Sciences, the urban unemployment rate is now 9.4%.
Even the highly educated are having a tough time. Chen Guangqing of the National Association of Vocational Educationsaid, “The employment situation may be worse than the 1990s. This time, college graduates are not finding work, andthere are so many of them.”
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