Rising unemployment in China is pushing millions of college graduates into a tough bargain, with some forced to accept low-paying work or even subsist on their parents' pensions, a plight that has created a new working class of "rotten-tail kids". The phrase has become a social media buzzword this year, drawing parallels to the catchword "rotten-tail buildings" for the tens of millions of unfinished homes that have plagued China's economy since 2021. A record number of college graduates this yea

BEIJING (Reuters) - Rising unemployment in China is pushing millions of college graduates into a tough bargain, with some forced to accept low-paying work or even subsist on their parents’ pensions, a plight that has created a new working class of “rotten-tail kids”.

The phrase has become a social media buzzword this year, drawing parallels to the catchword “rotten-tail buildings” for the tens of millions of unfinished homes that have plagued China’s economy since 2021.

A record number of college graduates this year are hunting for jobs in a labour market depressed by COVID-19-induced disruptions as well as regulatory crack-downs on the country’s finance, tech and education sectors.

The jobless rate for the roughly 100 million Chinese youth aged 16-24 crept above 20% for the first time in April last year. When it hit an all-time high of 21.3% in June 2023, officials abruptly suspended the data series to reassess how numbers were compiled.

  • ravhallEnglish
    31·
    3 months ago

    That is the pot calling the kettle black. ;)

    I just don’t believe you can type it. Any excuse not to answer the question, that was part of the original joke! Pretty spot on so far.

    • cecinestpasunbot@lemmy.mlEnglish
      12·
      3 months ago

      I just don’t believe you can type it.

      What does that mean? Do I not have fingers? Omg am I an AI stuck in a simulation and my code literally prevents me from typing out some magic spell for no discernible reason?! 😲

      Or maybe you started this thread by taking swings at windmills and as a consequence I just don’t take you seriously enough to feel the need to prove anything to you. I’m amazed you haven’t considered that.

      But hey I get it. That tinfoil hat sure is shiny and you wear it well. It would be such a shame if you decided to take it off.