Huge numbers of graduates are underemployed in China
The Wall Street Journal 26 August 2012 Issue No:236 BEIJING—China's labor market has so far proved resilient despite a slowing economy, but that means little to recent college graduate Wu Xiuyan. "My classmates and I want to find jobs in banks or foreign-trade companies, but the reality is that we can't find positions that match our education," said Ms. Wu, 24 years old, who graduated in June from Zhejiang University of Finance and Economics. She has spent the time since then living at home and trawling recruitment websites. "I just want a stable, maybe administrative, job," she said, "but why is it so hard?" China has shown little evidence of rising unemployment despite the slowest growth rate since the global financial crisis—and is nowhere near the jobless rates seen in some of the countries hardest hit by the euro-zone debt crisis. But slowing growth underscores a fundamental challenge to China's economic develop