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Strategies & Market Trends : China Warehouse- More Than Crockery -- Ignore unavailable to you. Want to Upgrade?

To: RealMuLan who wrote (3334)	7/8/2004 7:40:24 PM
From: RealMuLan	Read Replies (2) \| Respond to of 6370

Supply of graduates exceeds China's demand By Shashank Bengali Inquirer Foreign Staff BEIJING - Not long ago, Dong Qiang's degree in information-technology management would have assured him a comfortable job in China's high-tech sector. But this spring, the college senior interviewed with 12 computer companies and got 12 rejections. Each employer told him he did not have the skills the company sought. After investing in an expensive private university education, that is not what Dong wanted to hear. But in a nation that is pumping out more college graduates than ever, a degree - once an instant passport to China's professional elite - is not worth what it used to be. In coming weeks, 2.8 million Chinese will graduate from college, a 32 percent increase from last year. But even as rapidly as China's economy is growing, the job market cannot keep up with that kind of increase. So this year's graduates are bracing for less pay and record unemployment. As many as 800,000 will still be jobless in September, the government predicts. Those who do find jobs will accept salaries 25 percent to 30 percent lower than last year, according to Taihe Consulting, a human-resources research firm. These are historic changes in a country where the government used to assign all college graduates to jobs, virtually guaranteeing them a lifetime of stability. Today, as China moves from a planned economy to a market-based one, there is no more automatic placement. Competition for jobs is fierce. ... philly.com