YOUTH UNEMPLOYMENT IN CHINA’S LABOUR MARKET

Abstract

The article considers the peculiarities of youth employment and unemployment in China at the present stage of development. The purpose of the article is to analyze the current state of the youth labor market in China. The study used theoretical analysis of domestic and foreign scientific literature, statistical data, comparison, synthesis, and generalization. The author of the article concludes that youth unemployment in China is characterized by a cyclical nature due to a reduction in the number of employed in all sectors of the economy in the context of the observed economic downturn in the country; in order to reduce the number of unemployed among young people, it is necessary to attract additional investments in order to expand jobs and create conditions for reducing the labor supply; within the framework of international cooperation with Russia, it is necessary to expand the programs of professional and educational internships for students from China with the possibility of subsequent employment, which will partially solve the problem of personnel shortages in Russia, and reduce the surplus labor in China; given the cyclical nature of the development of national economies, forecasting the situation of labor force reduction aged 16 to 24 years for the next few years. The results of the study are of practical significance and can be used in national programs of socio-economic and regional development.