Due to the rapid development of modern society and the fact that the mainland is under so many policies, the involution, which refers to fierce competition, is profound. According to Sina Finance, Yu Minhong, Chairman of New Oriental, stated that young people on the mainland now have few to no options.
Minhong said that young people could only choose to move forward, which causes them significant psychological insecurity or harm. In the original Chinese rural society, according to Minhong, parents had a house in the countryside, and their children had a place to retreat no matter what.
However, young people who live in urban areas would lose their homes if they were unemployed. Many people do not own their own houses and live in rented houses. In addition, some people would have no resources or options as their parents may have been gone by the time they returned home.
Minhong added that the house might have to be returned to the bank once such young people lose their jobs. Minhong believes that people nowadays have fewer places to retreat to or even none. He said that people had no way out, and young people had no choice but to rush forward.
Trading Economics reported China’s unemployment rate for 2022.
The surveyed urban unemployment rate in China rose to 6.1% in April, up from 5.8% in March. It was the highest figure since February 2020. It exceeded the government’s target for the unemployment rate of 5.5% in 2022.
For people aged 16 to 24, the unemployment rate rose to 18.2% in April from 16% in March. Meanwhile, 5.3% of people aged 25 to 29 were unemployed in April, up 0.1% from March data.
In addition, their average weekly working hours decreased from 47.3 to 46.2 hours.
According to Peng Kaiping, a professor of psychology in Yu Minhong’s live dialogue, many of the problems are not simply psychological but social issues.
He said that part of the solution comes from psychologists while the other comes from the ruling authority.