Summary
A record 3.4 million young Chinese applied for civil service jobs in 2024, attracted by job stability and benefits amid high youth unemployment and an economic slowdown.
The “iron rice bowl” appeal persists despite wage cuts, unpaid salaries, and austerity measures affecting many civil servants.
Local governments, facing fiscal crises, have reduced bonuses and merged departments, while salaries in some regions are delayed.
Critics call for reform of China’s bloated state sector, but high demand for these jobs reflects disillusionment with private-sector prospects and enduring economic uncertainty.
Oh! This is why the Chinese Youth unemployment rate fell… to 17.6%.
https://www.reuters.com/world/china/chinas-sept-youth-jobless-rate-176-compared-with-188-august-2024-10-22/
I wonder what’s going to hit China in the ass first, the crisis of an aging population without trained replacements or the crisis of a bunch of people who could be taking those jobs except they have to wait for someone to age out of them?