Employment rate for Chinese college graduates remained stable at 91.7 per cent last year despite slowdown in the world’s second largest economy, according to a recent survey.
As per the survey, done by MyCOS Institute, an education research company, “more graduates are employed by private employers”.
The employment rate of college graduates in 2015 was 91.7 per cent as compared to 92.1 per cent in 2014 and 91.4 per cent in 2013, state-run Xinhua news agency quoted the survey as saying.
In April, the urban employment remained stable with the creation of 3.18 million jobs this year, Ministry of Human Resources said.
Unemployment rate in urban areas stood at 4.04 per cent at the end of March, down from 4.05 percent at the end of 2015, they said.
An additional 3.18 million urban jobs were created in the first three months of 2016, Ministry spokesperson Li Zhong said.
China is keeping a close watch on its employment scenario as the economy slowed down to 6.9 percent last year and is expected to slowdown further in the next two years. About 1.8 million workers were set to loose their jobs in energy and steel sector, officials said.
The survey said 92.2 per cent of university graduates and 91.2 per cent graduates from junior colleges and higher vocational schools got employed.
Some 250,000 college graduates in 30 provincial-level regions on the mainland were interviewed six months after their graduation last year.
59 per cent of them were employed by private firms, an increase of 5 per cent than two years before, while the employment rates in state-owned enterprises, foreign-owned companies and joint ventures dropped.
More graduates are starting their own business with three per cent of them registering as self-employed in 2015. Most graduates secured start-up funding from their parents, relatives, friends or personal savings, the survey said.
Industries including education, medicare, media, information and communications hired more graduates while construction and hardware manufacturing sectors inducted less number of employees.
The survey also covered some 41,000 employees who graduated from college in 2012. Their average monthly income was 5,696 yuan (about USD 868 ), 87 per cent more than what they earned three years ago.