Chinese Grads Can't Find Jobs

Apparently this is becoming a universal problem:

It is being called the hardest job-hunting season ever for graduates, as nearly 7 million of them swarmed into the job market this summer, adding to the country’s job creation pressure amid the ongoing economic slowdown.

It has become increasingly difficult for college graduates to secure a job in recent years. Given the accumulated number of college students who graduated in previous years and failed to find a job, the pressure is growing.

According to the Blue Book of China’s Society in 2012, compiled by the Chinese Academy of Social Sciences, about 9 percent of graduates in 2008 couldn’t find a job on leaving college. In 2011, 17.5 percent failed to find employment.

Hat tip to Zero Hedge, where the first comment reads, “Imagine that, a piece of paper doesn’t guarantee anything.”