By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
IndebtaIndebta
  • Home
  • News
  • Banking
  • Credit Cards
  • Loans
  • Mortgage
  • Investing
  • Markets
    • Stocks
    • Commodities
    • Crypto
    • Forex
  • Videos
  • More
    • Finance
    • Dept Management
    • Small Business
Notification Show More
Aa
IndebtaIndebta
Aa
  • Banking
  • Credit Cards
  • Loans
  • Dept Management
  • Mortgage
  • Markets
  • Investing
  • Small Business
  • Videos
  • Home
  • News
  • Banking
  • Credit Cards
  • Loans
  • Mortgage
  • Investing
  • Markets
    • Stocks
    • Commodities
    • Crypto
    • Forex
  • Videos
  • More
    • Finance
    • Dept Management
    • Small Business
Follow US
Indebta > News > Xi Jinping calls for quality jobs for youth instead of ‘bitterness’
News

Xi Jinping calls for quality jobs for youth instead of ‘bitterness’

News Room
Last updated: 2024/05/28 at 9:15 PM
By News Room
Share
5 Min Read
SHARE

Unlock the Editor’s Digest for free

Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.

A year after telling young people in China struggling to get a job that they should “eat bitterness”, or endure hardship, Xi Jinping has changed his tune as the world’s second-largest economy struggles to return to full health.

With youth unemployment still running at nearly three times the overall rate, China’s president sounded a more sympathetic note on Tuesday, ordering the Communist party’s politburo leadership group to make the provision of “high-quality full employment” an economic priority.

This was in stark contrast to his comments to youth last May that they should embrace difficulties as he did in the 1960s when, as a teenager during Mao Zedong’s Cultural Revolution, he was sent to the countryside to do manual labour, including shovelling manure.

On Tuesday, Xi told the politburo to “give top priority to the employment of college graduates and other youth groups”.

“[We should] develop more jobs that are conducive to giving full play to their knowledge and strengths,” state news agency Xinhua quoted him as saying.

China’s economy grew more than 5 per cent in the first quarter compared with a year earlier. But economists say the recovery is patchy — supported by manufacturing, exports and government investment, but with household consumption and investor sentiment still affected by a slump in the property sector.

China’s unemployment rate for those aged 16-24 was running at above 21 per cent in June last year, when the National Bureau of Statistics suddenly stopped reporting the figures, citing the need to improve the methodology.

The government started releasing figures for youth unemployment again in December, but this time excluded students. The figure came in at 14.7 per cent in April, down from 15.3 per cent a month earlier, but still much higher than the urban unemployment rate of 5 per cent.

In his statement to the politburo, Xi said leaders needed to “encourage young people to engage in employment and entrepreneurship in key areas, key industries, [and] urban and rural grassroots and small and medium-sized enterprises”.

About 12mn graduates are set to enter China’s workforce this year, but many complain they cannot find work commensurate with their qualifications or with salaries high enough to justify the expense of going to university.

Leaders needed to analyse “the reasons for the labour gap in some industries, and solve the problem of ‘there are jobs but no one to do them’”, Xi told the politburo.

A year ago, Chinese official media released articles emphasising how Xi’s experiences in the countryside in 1969 were an example for today’s youth.

“To collect manure you had to take off your shoes, roll up your trouser legs, [and] jump in barefoot,” said one article, which mentioned eating bitterness nearly 30 times, quoted him as saying. “[Xi] was covered in sweat and manure and urine, mixed together, wet and smelly.”

The article said that “only by passing the labour test and establishing the idea of ‘seeking hardship for oneself’ can you . . . make your thoughts closer to the people”.

In other comments to the politburo, Xi told cadres to take measures to promote the employment of migrant workers — the millions of people who move within China for work.

As construction work has dried up with the property slowdown, many labourers have had to look for other jobs, with some returning to their hometowns and villages.

“Stabilise the scale of employment and income of people who have been lifted out of poverty, and prevent large-scale return to poverty due to unemployment,” Xi told the politburo.

Read the full article here

News Room May 28, 2024 May 28, 2024
Share this Article
Facebook Twitter Copy Link Print
Leave a comment Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Finance Weekly Newsletter

Join now for the latest news, tips, and analysis about personal finance, credit cards, dept management, and many more from our experts.
Join Now
US Secretary of Commerce Howard Lutnick speaks at the World Economic Forum

Watch full video on YouTube

What Planet Fitness And Lifetime’s Performance Tells Us About The ‘K-shaped’ economy

Watch full video on YouTube

Lithium Miners News For The Month Of March 2026

This article was written byFollowThe Trend Investing group includes qualified financial personnel…

How the shadow fleet is capitalising on the chaos of war

December 2022The Strateg, originally named Melodia and sailing under the Marshall Islands…

Why it’s not time to buy the tech dip, gold, and silver on fire

Watch full video on YouTube

- Advertisement -
Ad imageAd image

You Might Also Like

News

Lithium Miners News For The Month Of March 2026

By News Room
News

How the shadow fleet is capitalising on the chaos of war

By News Room
News

17 Education & Technology Group Inc. (YQ) Q4 2025 Earnings Call Transcript

By News Room
News

UTG: Create Dividend Growth From AI Data Centers (NYSE:UTG)

By News Room
News

Invesco High Yield Fund Q4 2025 Commentary (AMHYX)

By News Room
News

Warner Music Group Stock: Even At 52-Week Lows, I Still Have Concerns (NASDAQ:WMG)

By News Room
News

Five Below Stock Might Grow Faster Than Its Management Expects (NASDAQ:FIVE)

By News Room
News

Firefly Aerospace Inc. (FLY) Q4 2025 Earnings Call Transcript

By News Room
Facebook Twitter Pinterest Youtube Instagram
Company
  • Privacy Policy
  • Terms & Conditions
  • Press Release
  • Contact
  • Advertisement
More Info
  • Newsletter
  • Market Data
  • Credit Cards
  • Videos

Sign Up For Free

Subscribe to our newsletter and don't miss out on our programs, webinars and trainings.

I have read and agree to the terms & conditions
Join Community

2023 © Indepta.com. All Rights Reserved.

Welcome Back!

Sign in to your account

Lost your password?