Is There a Surplus of College Graduates in China? Exploring Strategies for Sustainable Employment of College Graduates

Abstract

In 2019, China achieved a milestone in higher education with a gross enrollment rate surpassing 50%, signifying the internationally recognized phase of “universalization”. In 2023, the escalating number of college graduates amounted to 11.58 million, an increase of 0.8 million over the last year, reaching a new high in scale. Despite this remarkable progress, the employment rate of college graduates has remained low and stagnant over the past two decades. This paradox highlights the pressing need to address the employment challenges faced by a growing number of college graduates in China. The existing supply structure of college graduates, including education levels, academic disciplines, spatial distribution, and core competencies, is inconsistent with the demand structure of the labor market. This mismatch emphasizes the necessity for both the supply and demand sides to collaborate in resolving the college graduate employment problem. By advancing the industrial structure, optimizing the configuration of higher education, and fostering a culture of innovation, a harmonious integration of the higher education system with economic development, market demands, and long-term planning can be achieved. The strategies proposed in this study offer practical solutions to promote sustainable employment for college graduates in China.