The unemployment rate for young people aged 25-29 reflects the grim reality
Young people are the pillars of the country, the new force of the economy, and the source of vitality of society. However, in these times of change, they have encountered unprecedented employment difficulties. Especially for young people aged 25-29, it becomes more difficult to find a job.
According to the latest data, the unemployment rate of the labor force aged 25-29 excluding school students in urban areas across the country was 7.2% in March 2024, up 0.8 percentage points from the previous month (6.4% in February). In terms of other age groups, the unemployment rate of the labor force aged 16-24 excluding school students in urban areas nationwide was 15.3%, unchanged from the previous month. The unemployment rate of the labor force aged 30-59 in urban areas, excluding school students, was 4.1 percent, down 0.1 percentage points from the previous month.
From Caixin data
This data reflects the serious challenges faced by youth employment in the mainland. We know that most of the 16-24-year-olds are voluntarily unemployed and are still in the learning stage, and the 30-59 years old are in the stage of career stability, and most of them will stick to their posts with the idea of supporting their families, but what about 25-29 years old? Most of the young people in this age group have just graduated and are still in the career selection period, so we can more accurately monitor the employment and unemployment situation of young people, and see the full picture of employment and unemployment in the process of young people graduating from school to stable work, and we have to face up to the reality that the employment crisis of young people aged 25-29 is far more difficult than we imagined.
What are the main reasons for the increase in youth unemployment among 25-29 year olds?
There are many reasons for the increase in the unemployment rate of young people aged 25-29 in the mainland, mainly the following five points:
1. Economic transformation and industrial restructuring: In the context of economic globalization, China's economy is undergoing unprecedented changes. With the adjustment and upgrading of the industrial structure, some traditional industries are facing unprecedented challenges, and the number of jobs in some industries or fields has decreased, resulting in the need for a large number of labor to flow back into the job market.
2. Technological progress: With the development of science and technology and the popularization of automation, many traditional industries are facing the situation of being replaced, resulting in some workers losing employment opportunities. Emerging professions (such as artificial intelligence, Internet of Things, VR, etc.) require higher skills and knowledge from talents, and their own skills are lacking, resulting in the inability to adapt to the changing job market.
3. Education issues: The mismatch between education and employment is an important factor leading to the rise in unemployment. Many graduates do not have the skills and experience that are in demand to find suitable jobs, and some businesses are facing a shortage of highly skilled talent.
4. Policy adjustment: Policy adjustment can also lead to an increase in the unemployment rate. For example, reduced government policy support for certain industries or sectors has led to a reduction in the number of jobs in that sector.
5. There is a surplus of highly educated talents and insufficient supply of jobs: According to data from the Ministry of Education, there will be 11.58 million college graduates in the country in 2023, and 11.79 million are expected in 2024. The influx of graduates into the job market, the depreciation of academic qualifications, the lack of skills, the oversupply of talents, and the limited demand for jobs have put young people under greater pressure to find employment.
How to solve the employment problem? Understanding the trend of the times and improving skills has become the key
In the face of today's severe employment situation, I found that the main reason for the rise in the unemployment rate of young people aged 25-29 is that they do not understand the development trend of the times and lack the necessary skills.
In recent years, the wave of digital transformation has spread all kinds of enterprises, big data, artificial intelligence, and cloud computing continue to lead the vane of the technological revolution, and intelligent manufacturing has become a new engine for the manufacturing industry, especially the proposal of "new quality productivity" has pushed the development of digital technology to a new level. As a result, the thirst for talents of enterprises is becoming more and more diversified, and the compound talents who understand technology have become fragrant and sweet, and the demand for talents is strong.
It is understood that with the advent of artificial intelligence + in all walks of lifeWith the launch of the action, China's AI talent gap will exceed 10 million, by 2027, the mainland's network security personnel gap will reach 3.27 million, by 2025, the mainland's cloud computing industry may face a talent gap of 1.5 million, the talent gap of Hongmeng development may reach one million, by 2025, the number of talent gaps in the core industry of the industrial Internet will reach about 2.54 million, and the talent gap in the live broadcast industry is expected to increase to 19.415 million in 2025.
According to the World Economic Forum's Future of Jobs Report 2023, the demand for talent in the autonomous driving and electric vehicle industries will show strong growth momentum by more than 40% by 2027, and the demand for jobs such as data analysts and scientists, big data specialists, artificial intelligence and machine learning experts, and cybersecurity personnel is expected to increase by 30% to 35%.
In addition, according to the data, the current overall digital talent gap is about 25 million to 30 million, and the gap continues to expand, and the talent shortage is expected to last for three to five years. In order to give full play to the fundamental role of digital talents in supporting the digital economy and accelerate the formation of new quality productivity, the Ministry of Human Resources and Social Security and other nine departments recently issued the "Action Plan for Accelerating the Cultivation of Digital Talents to Support the Development of the Digital Economy (2024-2026)", just to accelerate the cultivation of digital talents.
It is not difficult to find that the vigorous development of new formats and new models contains many new job requirements, and compound IT talents with digital technology development capabilities will continue to become the "hard currency" of the job market in the future!
Therefore, at the moment of the unemployment crisis, it is a very correct way to solve the employment problem by paying attention to the market dynamics and industry development trends, and actively improving one's practical digital skills and comprehensive quality through learning, so as to better grasp the employment opportunities and adapt to the talent needs of the society.
Editor in charge: Meng Xiaoqi
Typesetting: Meng Xiaoqi
Image source: Internet