CHINA – NUMBER OF JOB VACANCIES FALLS FOR COLLEGE GRADUATES IN 2019, STUDY FINDS
The number of job vacancies for each college graduate in China decreased in 2019 when compared to 2018, according to the latest employment index released by the China Institute for Employment Research of Renmin University of China and Zhaopin.com.
The CIER employment index stood at 1.41 for Chinese college students in 2019, down from 1.54 a year ago, due to higher demand for jobs among graduates than supply. This means there were 1.41 job vacancies in 2019 for each new Chinese college graduate.
Based on online data in the spring recruitment season and surveys of 88,150 graduates, Zhaopin.com expects the number of college graduates to reach a record 8.34 million this year, with an increase of 140,000 compared with 2018 and competition for jobs becoming fiercer.
In the three months after the Spring Festival in January 2019, the recruitment demand for college students fell 13% compared with the same period in 2018, while the number of job seekers dropped 5%, year on year. Zhaopin added that the mismatch was the main reason for the declining index.
Zhaopin stated that the rapid development of the intermediary services industry is contributing more jobs, but neither fresh graduates nor experienced workers hold high recognition of the sector, which led to low deliveries of their CVs.
Meanwhile, the study also found that 88% of college graduates agreed that it was becoming more challenging for them to find a satisfactory job, up 5.3% from the same period last year.