employers of recent graduates. because of the crisis in the property sector, staff are being shared and not so many people being taken up. the services industry is bouncing back quite well compared to other parts of the economy following the covid crisis but still hasn t completely recovered, and so what we have is a situation with a record number of university graduates and many wondering where they are going to go after graduation, and the question is being asked as to whether or not china has the right number of university graduates, the right mix of areas of study. and when it comes to the jobs picture in china, the latest indicator shows overall employment at a little over 5% in april, but the youth unemployment rate, between the ages of 16 and 2a, with 20% in april, a five year high. a little earlier andrew from
consumer market is recovering and number two, our data show that the growth of alibaba and other e commerce platform is getting back to a faster pace and thirdly, we are seeing that cross different business units of alibaba they are expanding the number ofjob openings, so that shows a confidence from the management that they want to expand the business, so we are expect in a strong earnings report from alibaba. report from alibaba. timor has alwa s report from alibaba. timor has always been report from alibaba. timor has always been one report from alibaba. timor has always been one of report from alibaba. timor has always been one of its - report from alibaba. timor has always been one of its biggest| always been one of its biggest earners but it is now seeing more competition and even though consumer spending has seen a spike we have a very high youth unemployment rate as well so is this spending spike sustainable? we well so is this spending spike sustainable? sustainable? w
that the growth of alibaba and other e commerce platform is getting back to a faster pace and thirdly, we are seeing that cross different business units of alibaba they are expanding the number ofjob openings, so that shows a confidence from the management that they want to expand the business, so we are expect in a strong earnings report from alibaba. timor has always been one of its biggest earners but it is now seeing more competition and even though consumer spending has seen a spike we have a very high youth unemployment rate as well so is this spending spike sustainable? we believe that the recovery of the consumer spending is continuous, and we are seeing different pockets going back and recovering at a different pace, so as china is
especially when the fundamentals stay weak at this moment, when we look at the first quarter, income growth is low and income and essentially consumers are drawing on their savings. that cannot last forever. and despite some positive economic data i have noticed that the youth unemployment rate has been quite high. how much pressure does that put on overall consumer spending in the country? when you look at youth, the younger generation are the ones who like to spend so that high youth unemployment will definitely put a drag on consumption. an then when graduation season comes we have 9 million college graduates who may face this very weak labour market. i think that will not go very well for consumer confidence in general. from the