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July 12, 2014

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More graduates going it alone as job offers remain steady

FLAT economic conditions saw the number of local college graduates who had lined up a job or further studies by the end of June remain virtually the same as last year, education officials said yesterday.

However, the number of new graduates setting up their own businesses soared compared to 2013, as budding entrepreneurs took advantage of government incentives.

The Shanghai Education Commission said 175,600 students graduated in Shanghai this summer — 37,900 postgraduates, 89,100 graduates and 48,600 vocational college graduates.

By the end of June, 72 percent of this group had accepted a job offer, been admitted to graduate studies or decided to go abroad, said the commission.

This group represented around 58 percent of graduates who had found jobs, approximately 8 percent were embarking on further studies, while 5 percent were going overseas.

This overall figure was up just a 0.5 percentage point up on June 2013 when a similar number of students graduated.

Officials said this reflected flat economic conditions.

Postgraduates fared best, with about 81 percent securing positions, compared to 68 percent for undergraduates and 73 for vocational college graduates.

Due to fierce competition in the jobs market, more students seek further qualifications after graduation. The number of postgraduates in Shanghai has risen by 2 percentage points for the past three years.

Figures showed that by the end of June, 828 college graduates chose to be entrepreneurs — up 71 percent on last year.

Startups can get loans ranging from 500,000 yuan (US$80,600) to 2 million yuan from the Shanghai Human Resources and Social Security Bureau.



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