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Youth unemployment in China jumps to 17.1% in July (www.voanews.com)

submitted 2 months ago by MCasq_qsaCJ_234@lemmy.zip to c/world@lemmy.world

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Youth unemployment in China ticked up to 17.1% in July, official figures showed, the highest level this year as the world's second-largest economy faces mounting headwinds.

China is battling soaring joblessness among young people, a heavily indebted property sector and intensifying trade issues with the West.

Chinese Premier Li Qiang, who is responsible for economic policy, called Friday for struggling companies to be "heard" and "their difficulties truly addressed," according to the state news agency Xinhua.

The unemployment rate among 16- to 24-year-olds released Friday by the National Bureau of Statistics (NBS) was up markedly from June's 13.2%.

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[-] ravhall@discuss.online 10 points 2 months ago* (last edited 2 months ago)

They aren’t haters. They’re down voting the boot strap boomer. I don’t need Another degree. I need companies to pay salaries that reflect inflation. I need my government to have Social Security reflect inflation. I need my government to prevent corporations and “ Investors” From purchasing all the single-family homes, driving the price up to a level where what used to be a starter home is now $500,000. And I need little shits like you to wake the fuck up. That’s why they’re down voting you.

[-] Jessica@discuss.tchncs.de -5 points 2 months ago* (last edited 2 months ago)

First of all, I'm a millennial lol.

Second of all, you're preaching to the choir, and I agree on all points. I was simply trying to give some helpful advice in the form of a way to play the game that is becoming successful in America right now as I was literally just describing how I did things because it worked for me, and it's worked for others as well.

I was poor for many years as an adult. I went to college, and I got into computer science. After 5 years in my career, I just (barely) got to a 6 figure salary at my last review. I've been putting as much as possible into retirement and living very modestly because I know there likely won't be any social security for me so I took matters into my own hands.

Oh and for the record, my company doesn't match inflation, and I'm still a renter and will probably never be able to afford a home.

[-] ravhall@discuss.online 3 points 2 months ago

You’re never going to be able to retire. By the time your are ready, inflation and other nonsense will have made your money worth a fraction of its value. Even if you invest, they are not going to pay out enough to keep the value the same. Sure, you may retire at 70 with a million dollars, but that would be like having 200k now, which doesn’t allow for retirement care. And that’s assuming social security is even around.

You keep on with those hopes and dreams. It’s better to be blissfully ignorant and find out later than know the entire time you’re hosed and there’s nothing you can do about it, because the system doesn’t want you.

[-] Jessica@discuss.tchncs.de 0 points 2 months ago* (last edited 2 months ago)

I'm aiming for $1,000,000 by 50 to retire actually. I've got no clue if I'll pull it off, but this site seems to think so: https://networthify.com/calculator/earlyretirement

I'll honestly probably be dead by 70 anyways due to health reasons so even if I don't hit that goal, I'm probably just going to retire anyways and yolo it

[-] ravhall@discuss.online 2 points 2 months ago

This is a very optimistic outlook! Enjoy it while it lasts.

this post was submitted on 18 Aug 2024

232 points (96.8% liked)

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