Almost half of Chinese undergraduates returned to their hometowns last year within six months of graduation, state media reported, with the proportion rising to 47% from 43% in 2018 amid a sagging job market
Feeling the pinch of rising living costs, jobless Chinese youth have been leaving mega-cities, traditionally the stepping stone to middle-class wealth and beyond, for their hometowns with a slowing economy this year further pushing them away.
Those going home varied, with the well-developed east seeing the highest percentage of 59% versus 44% in the west and 24% in the northeast rust belt. Also pushing the young to return home are continued increases in rents. Among China's biggest first-tier cities, rents in Beijing soared 5.0% by the end of June from December followed by 2.8% gains in Guangzhou and Shenzhen, according to state-run Xinhua news agency.
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