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China

+ - Chinese Labor Market in Trouble-> 4

Submitted by Copper Nikus
Copper Nikus writes: The nytimes has an interesting story about the current job market in China. It appears the chinese have stolen too many factory jobs from the USA and are now suffering the consequences. There is a great shortage of factory workers along with a large oversupply of college graduate yougsters that absolutely hate factory work and manual labor in general. Many of the college educated slackers are willing to take scarce non-factory jobs even if they pay only a fraction of what factories pay. When it comes to fresh computer science graduates in particular, the wage at top companies has dropped from $725 a month to $550 a month over the last decade due to oversupply. That is less than what many low skill factory jobs pay. As you might have suspected, a big part of the problem are parents and grandparents willing to subsidize the lazy college educated yougsters. There is also interesting data about cost of living over there, such as internet service for $8 a month, etc.
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Chinese Labor Market in Trouble

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  • There are many stereotypes of Chinese

    That they get low pay, work in terrible condition, and still work very hard

    That they are very eager to learn when get the chance

    But one important thing about many Chinese (mainly from mainland China) that I know is, that they are not afraid to become entrepreneurs.

    Unlike most Americans, those Chinese graduates that can't find office jobs do not sit in their home waiting for social welfare checks. Instead, they will go out and _sell_ something.

  • There is far too much editorializing in this submission. "Lazy" college kids? Sure, if your definition of refusing to work at a grueling pointless job for less money every year equates to "laziness".

    It is perfectly financially sound to take the option of removing yourself from the work pool if you have the support to do so, rather than work for diminishing returns simply to work. Viewing these students decisions through your Puritan work ethics lens and judging them "lazy" is quite offensive.

    • by Daemonik (171801)

      You know, some other thoughts:

      The Chinese did not steal American workers jobs. American businesses threw jobs at them because "lazy" Americans don't like working for free, the lazy bastards!

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