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China Faces a Grad Glut After Boom at Colleges


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crowds at Nanjing job fair

Graduating university students pack a job fair in Nanjing, China, late last year.

Getty Images

Zhang Weidong has been making the rounds at the weekend talent fair in Nanjing, China for more than a month now and can't understand why he hasn't landed a job. "These companies are looking for employees, and I have a degree," says the 22-year-old computer major. "I don't know what I'm doing wrong."

Unemployed university graduates used to be rare in China. But now their ranks are ballooning to critical levels just as the country suffers its worst economic slump in two decades. Up to one-third of last year's 5.6 million university graduates are still looking for work. China is suffering from a higher-education equivalent of the global credit bubble.

From The Wall Street Journal
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