Help Wanted

Despite rising growth numbers and a booming stock market, China's jobs situation looks a lot like the rest of the world's.

From AFP:

Image from AFP of a jobs fair in Beijing

BEIJING — China Tuesday warned of a "grave" situation in the jobs market with millions of graduates and migrant workers yet to find work as companies continue to struggle with the effects of the global slump.

"China's current employment situation is still grave and the pressure for job creation remains large," said Wang Yadong, a senior official at the Ministry of Human Resources and Social Security's employment section.

"To make things worse, the impact of the international financial crisis has not yet bottomed out and a lot of companies are still facing business difficulties, posing big unemployment risks," he told reporters.

Wang said around 147 million migrant workers had moved to cities for jobs by June but more than four million had yet to find one.

Moreover, three million university graduates, including those who had left last year, were still unemployed, he said.

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It's disconcerting to see that the non-elites of the world are the ones who are still feeling the brunt of tough times these days. While the people in the above article look for something to do with themselves, the wealthy and those who've gotten in on the stimulus money are bankin' it playing the stock market.



Funny how the world works.