Dragon's half population will be unemployed! There was an uproar in China as soon as the report came

Peking University professor Zhang Dandan wrote in an online article in the prestigious financial journal Caixin that if 16 million non-students were "lying around" at home or dependent on their parents, the country's unemployment rate could reach 46.5 percent. .

Unemployment is not just a figure but like an epidemic for a country. The higher the unemployment, the weaker will be the economy of the country. Today there are indications of the world's second largest economy struggling with this pandemic. In fact, the article of the Professor of Economy has created a ruckus in China regarding unemployment. A Chinese professor has claimed that the unemployment rate in the country can reach up to 50 percent. After the arrival of this article, the debate about unemployment has started again in China. Along with this, the demand to strengthen the weakening labor market has also started.

Record unemployment more than 21 percent in June

Peking University professor Zhang Dandan wrote in an online article in the prestigious financial journal Caixin that if 16 million non-students were "lying around" at home or dependent on their parents, the country's unemployment rate could reach 46.5 percent. Zhang is an associate professor of economics at the University's National School of Development. His article, which was originally published on Monday, has now been removed. The official youth unemployment rate, which includes people actively looking for work, rose to a record 21.3 percent in June after slowing in the second quarter of the world's second-largest economy. Policy makers have tried a lot to stabilize the economy since the Kovid-19 epidemic.

Highest unemployment in manufacturing sector

In fact, Zhang's research focused on the impact of the outbreak on the manufacturing centers of Suzhou and Qushan in eastern China. He wrote that by March, employment there had only reached two-thirds of the pre-Covid level. The special thing is that by the time the effect of Kovid has faded a lot. China's youth mainly work as laborers in the manufacturing sector. Due to which more bad effect was seen on them. Apart from this, the regulations introduced from 2021 in the tuition, property and online platform sectors have had a bad impact on young employees and well-educated people, he said in the article.

Uproar on Chinese social media

On Thursday, a user on China's popular social media platform Weibo criticized Zhang's article, saying his statistical method was lacking. He wrote on Weibo that when collecting unemployment figures, economists usually do not count people who are not actively looking for work. While another social media user focused on how difficult it is still to find a job in China. According to a Weibo post, so many graduate students appear for the post graduate or civil service exams instead of looking for jobs. Because of which they do not look for jobs.