a university degree. only around one third of her class have found full time jobs. she is taking a job in sales, not her dream career, but she is determined to make the most of every opportunity. do you think it is more difficult now than when your parents were growing up to get a job? translation: yes. the fact is that there are lots ofjobs. the trouble is whether you are willing to lower your expectations. these jobs don t have good prospects for your future. they offer low salaries and you are easily replaceable. that is why most people would rather stay at home than choose one of these jobs. some disillusioned graduates posted photos on social media suggesting their degrees were worthless. others lay on the ground, lying flat it is called, a term used by young people opting out of the competition of modern life. as the number of young, unemployed people continued to rise, the chinese leader, president xi, came up with an idea. for decades, young people have left rural are
let s speak to david woo, a former international monetary fund economist and macro strategist. thank you for coming in the programme. thank you for coming in the programme- thank you for coming in the rouramme. . ., ., programme. thanks for having me. what is going programme. thanks for having me. what is going on programme. thanks for having me. what is going on here, programme. thanks for having me. what is going on here, what - programme. thanks for having me. what is going on here, what is - programme. thanks for having me. what is going on here, what is the | what is going on here, what is the root of this problem? i what is going on here, what is the root of this problem? root of this problem? i think the root of this problem? i think the root cause root of this problem? i think the root cause here root of this problem? i think the root cause here is root of this problem? i think the root cause here is the root of this problem? i think the root cause here is the c
not reporting it anymore seems to indicate they don t expect it to go down any time soon. and there are a lot of other factors at play too. even in the youth unemployment numbers a lot of young people are under employed. by chinese metrics if you work one hour a week you re considered employed. so there is the sense that that youth unemployment number could be closer to 50%. so you combine that with weaker consumer spending. there s a bit of a chill in foreign investment with the new security laws and counter espionage laws that they ve had come into play here. raids on some firms. so it s a very tricky landscape that china is trying to navigate right now in trying to kick-start its economic growth with property developers filing for bankruptcy protection in the u.s. wow. and, of course, very strained relations between the two
traveling where the president in mexico city today. what is the white house saying there? reporter: good to see you, bill. the president s chief economic viciouser normally responds to this. they certainly feel good. awful the numbers you laid out are better than expected. wall street was expect being the job growth to be a little bit lower. things were revised upward for february and march jobs reports as well. alan krueger saying a moment ago kwhaoeut, while more work remains to be done today s employment report provide further evidence that the u.s. economy is continuing to recover from the worst downturn since the great depression. when he says more work needs thob done, one thing he could be referring to is while there is that good news we just noted, in terms much the manufacturing sector, not one single new job was added in manufacturing in the month of april. zero jobs. that is a sign that while there is hope in this report this economy is still not turned around, bill. bill: