Noughts

Quoting the People’s Daily Online,

About 1.24 million Chinese college students will graduate without jobs that require their qualifications this year, Tian Chengping, head of the Ministry of Labor and Social Security, has warned.

A total of 4.13 million students graduated from higher education institutions this year, 750,000 more than last year, said Tian.

Tian said the government had set up a mechanism to provide guidance and training for unemployed graduates.

Only 22 percent of China’s new jobs last year were for college graduates, according to a ministry study of 114 urban labor markets.

Contrast this with Singapore’s job market for university grads in recent years, where in demand outstrips the supply. The job market for employees is expected to continue to be good in 2007.

I’ll be interested to know what universities the bulk of these unemployed grads are from and what kind of degrees they are holding.

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