A record number of educated young Chinese are flocking to government jobs for security as the world’s second largest economy faces growing headwinds that have diminished prospects for private sector jobs.
As many as 3.7 million applicants nationwide, including graduates from the country’s top universities, sat for the annual civil service exam last month. But only one in about 100 is expected to secure a place among the 38,100 entry-level government roles, starting next year.
Many were willing to take those odds as private job prospects dim amid an economic slump and worsening business sentiment. Unemployment among 16- to 24-year-old urbanites in China has stayed above 17% since July, compared to around 10% in the U.S.
Government jobs were once considered “iron rice bowls” for their stability and fixed hours. But as the Chinese economy opened up, the country’s educated youth pursued higher pay and more job opportunities in the private sector, vying to join home-grown technology giants such as Alibaba, Tencent and Huawei.
Now these “Iron rice bowls” are making a come back again, as a prolonged economic slump and Beijing’s regulatory crackdown on certain parts of the economy, such as real estate, technology and tutoring firms, have led to large-scale layoffs in the private sector. The top 500 private firms in China slashed their workforce by 314,600 last year, according to an industry and commerce association body.
