In China, the employment situation continues to deteriorate, with layoffs, resignations, and unemployment becoming increasingly common. This has led many young people to turn to rural areas for a sort of “retirement”.
The Z-generation and millennials in China are increasingly sharing their “retirement” lifestyle in the countryside on social media, claiming they have been laid off, resigned, or simply have no job. These post-90s and post-00s self-proclaimed “retirees” are already taking extended breaks or facing unemployment at a young age.
According to CNBC, these young people often choose to become “retirees” in Yunnan, Guizhou, and Sichuan because the cost of living in these provinces is only a quarter of that in Shanghai.
Last year, a 22-year-old “retiree” named Wenzi Dada settled in a bamboo shed on a cliff in Guizhou Province. Wenzi had worked in various industries such as car maintenance, construction, and manufacturing before. He told local media that he grew tired of dealing with machines every day and decided to resign and return to his hometown. He tried to find work there but was never satisfied with the options he found.
As time passed, Wenzi began to ponder the meaning of life. He realized that “life is not only about the hustle and bustle of the city, but also the tranquility of the countryside.”
Chung Chi Nien, a lecturer at the Hong Kong Polytechnic University, explained that with China’s economy in turmoil, young people are finding it especially difficult to secure jobs.
He noted that this year, a record 11.8 million college graduates entered the labor market in China, intensifying competition and leading to a devaluation of the value of a university degree. Students who have just entered the workforce have shallow qualifications and little experience, further reducing their employment opportunities.
In August, China’s youth unemployment rate hit a new high of 18.8%, up from 17.1% in July. With domestic demand weakening and the real estate industry in decline, China’s economy has been sending disappointing signals one after another.
Dan Wang, Chief Economist for China at HSBC, pointed out that over the past three years, the high-value-added service industry that used to absorb many fresh graduates has significantly contracted, especially in real estate and finance. While there are some low-paying jobs in the cities, such as delivery or ride-hailing, educated young people are not interested in such work.
Keyu Jin, an associate professor of economics at the London School of Economics, highlighted that although there are job opportunities in the manufacturing sector, young people are not interested in these positions.
“They would rather stay at home with their parents and wait for better job opportunities,” she said.
According to a research report published in June by the China Higher Education Research journal under the Ministry of Education of the Communist Party of China, the number of college graduates entering the workforce may peak at around 18 million in 2034.
Yun Zhou, Assistant Professor of Sociology at the University of Michigan, told Reuters, “For many Chinese college graduates, a university degree, which was once seen as the ticket to a better career, higher social mobility, and a brighter future, has become increasingly out of reach.”