China's new graduates face job crunch with only 48% receiving offers

Tech companies and struggling real estate sector reduce hiring

20240622N China job fair

People attend a job fair for university graduates in Hefei, Anhui province. Jobs for recent graduates have become scarce in China. © Reuters

KENTARO SHIOZAKI, Nikkei staff writer

BEIJING -- New college graduates in China face an increasingly tough job market, with less than half securing informal offers as of mid-April.

According to human resources company Zhaopin, 48% of prospective graduates had received offers, down 2.4 percentage points from a year earlier. With two months to go until graduation, more than half of job-seeking college and graduate students had not secured a position.

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