China’s army of graduates is struggling

This week I read an article on how despite a booming economy the graduates of China are still struggling. The main points of the article are:

• Often the first from their families to finish even high school, ambitious graduates  are part of an unprecedented wave of young people all around China who were supposed to move the country’s labor-dependent economy toward a white-collar future.
•  "In 1998, when Jiang Zemin, then the president, announced plans to bolster higher education, Chinese universities and colleges produced 830,000 graduates a year. Last May, that number was more than six million and rising."
  It is a remarkable achievement, yet for a government fixated on stability such figures are also a cause for concern.
• "The economy, despite its robust growth, does not generate enough good professional jobs to absorb the influx of highly educated young adults. And many of them bear the inflated expectations of their parents, who emptied their bank accounts to buy them the good life that a higher education is presumed to guarantee."
• “For many young graduates, it’s all about survival. If there was ever an economic crisis, they could be a source of instability.”

China's economy is booming and continually growing. Many graduates of chinese families are the first in their family to do so. Just last May, chinese colleges and universities produced over 6 million graduates which is unbelievably impressive. These numbers also cause concern. Their country does not generate good professional jobs to absorb the influx of highly educated adults. For many young graduates its about survival, because even in their booming economy they could be a source of instability.

I am extremely impressed by the number of graduates China has in a given year. I can only imagine how scary and stressful it would be for the graduates. They empty their parents bank accounts with the hope that they are going to become very successful. Then they are in a very unstable situation where they might not find a job at all. That is so much pressure and stress to be put on a young person.