Young Chinese develop cases of depression when they fail to meet their labor market expectations (Photo: Anthony WALLACE / AFP)
Young people are confronted with economic problems in China “celebrate” their layoffs with parties.. Since childhood, young Chinese people have been under enormous pressure to develop as quickly as possible in the labor market. When they fail, they often become depressed.
Many of these young people cling to religion and faith and even have to return to their parents’ homes, a reflection of the stagnation of the market in a country that is one of the largest in its economy.
The country’s work culture is demanding and stressful, as many consider it normal to work from 9 a.m. to 9 p.m. six days a week.
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Unemployment in China: Celebrating “Sadness”
Celebration of unemployment is increasingly shared after layoff. Despite the country’s difficult economic climate and rising youth unemployment, people in their 20s are leaving their jobs for reasons such as low pay and burnout, a CNN report says.
There was a flood of posts about these “layoff parties” on Chinese social media. According to Maimai, a Chinese professional networking platform similar to LinkedIn, 28% of employees surveyed across various industries quit in 2022, and that number doubled among those who wanted to quit but have not yet done so.
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Unemployment in China: divine help and support in happiness
Since the great Covid19 boom of 2020 and the stagnation of the economy, young people have held on to their faith. Disillusioned with market developments, the unemployment rate for 16 to 24yearolds reached a record 20.4% in April, according to official statistics.
With more than a billion inhabitants, five religions are officially recognized in China: Buddhism, Taoism, Protestantism, Catholicism and Islam. The first two religions are an integral part of Chinese culture, with tens of thousands of temples and monasteries across the country.
Travel and review sites are increasingly recording the presence of young people in these times. According to the websites Qunar and Trip.com, about half of visitors are people in their 20s and 30s.
China’s lottery ticket sales in August reached the highest level of any month in 2023, largely due to this economic problem and the strong wave of unemployment.
Lottery trading recorded high growth of 53.6%; According to China’s Xinhua news agency, lottery tickets worth 375.76 billion yuan were sold nationwide from January to August, based on Finance Ministry data.
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Unemployment in China: Returning to parental home
In some cases, those who remain in the labor market often cannot bear these responsibilities, quit and return to the comfort of their families.
The special mode called “Whole Children” is intended for relaxation, reflection and the search for better jobs. But that is easier said than done.
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