Job creation will be the biggest challenge for Indian policymakers as the India's young population continues to grow. India has already overtaken China as the most populous country and about 53% of India is below the age of 30. But India's young do not seem to find full-time jobs, especially in the urban areas. Urban unemployment was at 6.8% in the January-March quarter. The share of urban workers with full-time jobs declined to 48.9% in December 2022.

India faces massive youth unemployment crisis | World Business Watch

In China, a record 10.8 million university graduates face a daunting future: a bad job market and a bad state of the economy in general.&nbsp;For context, the nation's soon-to-be graduates number more than the entire population of Portugal and all of them are about to enter one of the worst job markets in the last few decades of China's history. youth unemployment in China currently stands at its highest. As per Reuters "youth unemployment is already more than three times China's overall joblessness rate, at a record 18.4 per cent". A Business Standard report quotes Merrill Lynch of Bank of America as saying that, in May, urban youth unemployment hit a record 18.4 per cent. By July, the peak of graduation season, it could reach 23 per cent".

COVID-19 and the resulting harsh restrictions have battered an economy that was already contracting because of the collapse of the real estate market, geopolitical tensions, and regulatory crackdowns on the tech, education, and other sectors.

Watch |&nbsp;Stagflation: What is it and why is it a big deal now?

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There is no way to predict how high youth unemployment will affect Chinese society.&nbsp;In a year when President Xi Jinping is anticipated to win a record-breaking third term as the supreme leader, it can be problematic for China's stability-obsessed Communist Party that educated young people are struggling to find work.&nbsp;

According to Michael Pettis, a professor of finance at Peking University, the "social contract between the government and the people was you stay out of politics and we will guarantee that every year you'll do better than last year."

"So the concern is that once that guarantee breaks apart, what else has to change?"

Also read |&nbsp;<a href="https://www.wionews.com/world/is-unemployment-new-epidemic-spreading-across-china-296650">Is unemployment new 'epidemic' spreading across China?</a>

Premier Li Keqiang says that the government's primary objective is to stabilise the job market for recent graduates. As an incentive companies that offer internship positions to recent graduates will receive subsidies in addition to other benefits designed to increase employment overall.

Additionally, to encourage graduates to start their own businesses, some local governments have made affordable loans available.&nbsp;

Also read |&nbsp;<a href="https://www.wionews.com/world/australia-reports-48-year-low-jobless-rate-before-election-480324">Australia reports 48-year-low jobless rate before election</a>

The entry-level employment market in China is much worse than it was during the global financial crisis of 2008-2009, according to Rockee Zhang, Managing Director for Greater China at Randstad. New jobs are down by 20-30 per cent from the previous year.

Another recruitment company, Zhilian Zhaopin, claims that expected salaries are also 6.2 per cent lower.

(With inputs from agencies)

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In China, a record 10.8 million university graduates face a daunting future: a bad job market and a bad state of the economy in general. For context, the nation's soon-to-be graduates number more than the entire population of Portugal and all of them are about to enter one of the worst job markets in the last few decades of China's history.

In China, a record 10.8 million university graduates face a daunting future: a bad job market and a bad state of the economy in general. For context, the nation's soon-to-be graduates number more than the entire population of Portugal and all of them are about to enter one of the worst job markets in the last few decades of China's history. youth unemployment in China currently stands at its highest. As per Reuters "youth unemployment is already more than three times China's overall joblessness rate, at a record 18.4 per cent". A Business Standard report quotes Merrill Lynch of Bank of America as saying that, in May, urban youth unemployment hit a record 18.4 per cent. By July, the peak of graduation season, it could reach 23 per cent". COVID-19 and the resulting harsh restrictions have battered an economy that was already contracting because of the collapse of the real estate market, geopolitical tensions, and regulatory crackdowns on the tech, education, and other sectors. Watch | Stagflation: What is it and why is it a big deal now? There is no way to predict how high youth unemployment will affect Chinese society. In a year when President Xi Jinping is anticipated to win a record-breaking third term as the supreme leader, it can be problematic for China's stability-obsessed Communist Party that educated young people are struggling to find work. According to Michael Pettis, a professor of finance at Peking University, the "social contract between the government and the people was you stay out of politics and we will guarantee that every year you'll do better than last year." "So the concern is that once that guarantee breaks apart, what else has to change?" Also read | Is unemployment new 'epidemic' spreading across China? Premier Li Keqiang says that the government's primary objective is to stabilise the job market for recent graduates. As an incentive companies that offer internship positions to recent graduates will receive subsidies in addition to other benefits designed to increase employment overall. Additionally, to encourage graduates to start their own businesses, some local governments have made affordable loans available. Also read | Australia reports 48-year-low jobless rate before election The entry-level employment market in China is much worse than it was during the global financial crisis of 2008-2009, according to Rockee Zhang, Managing Director for Greater China at Randstad. New jobs are down by 20-30 per cent from the previous year. Another recruitment company, Zhilian Zhaopin, claims that expected salaries are also 6.2 per cent lower. (With inputs from agencies) Watch WION LIVE HERE: You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Covid, lockdowns and now unemployment: 10.8 millions university graduates face a dark future in China

A rise in unemployment claims has stalled New York City’s economic recovery in past weeks. Small businesses, particularly restaurants, saw more activity. But persistently high levels of unemployment continue to threaten the economic recovery. Susan M. Tehrani reports from the heart of New York City.

US Election 2020: Ground reports from New York City

More than half a billion people across the world can be pushed&nbsp;below the poverty line due to the coronavirus pandemic, Oxfam&nbsp;has warned.

A report was presented by it before virtual meetings of finance ministers of the G20 group of leading developed and developing nations, the International Monetary Fund and the&nbsp;World Bank to give suggestions on how the dire situation can be avoided.

Also read:&nbsp;<a href="https://www.wionews.com/business-economy/covid-19-could-lead-to-deepest-economic-recession-of-our-lifetime-wto-291380" hreflang="en">COVID-19 could lead to deepest economic recession of our lifetime: WTO</a>

It cited research by the King's College London and Australian National University estimating that 8 per cent of the world's population could be forced into poverty due to the adverse impact of COVID-19.

The International aid group&nbsp;on Thursday urged world leaders to agree a comprehensive rescue package to muster some $2.5 trillion needed to prevent this outcome.

Also read:&nbsp;<a href="https://www.wionews.com/world/european-commissioners-prod-germany-over-coronabonds-290836" hreflang="en">European commissioners prod Germany over 'coronabonds'</a>

Among the measures that should be undertaken include the immediate cancellation of $1 trillion worth of developing country debt payments in 2020 and the creation of at least US$1 trillion in new international reserves.

According to it, the economic fallout of the coronavirus risked setting back the fight against poverty by a decade, and as much as 30 years in some regions including Africa and the Middle East.

"G20 Finance Ministers, the IMF and World Bank must give developing countries an immediate cash injection to help them bail out poor and vulnerable communities," said Jose Maria Vera,&nbsp;Oxfam&nbsp;International Interim Executive Director.

Oxfam&nbsp;warned that while many wealthy nations have introduced multi-billion-dollar economic stimulus packages to support business and workers "most developing nations lack the financial firepower to follow suit."

The warning comes right ahead of three key international meetings next week.

&nbsp;

More than half a billion people across the world can be pushed below the poverty line due to the coronavirus pandemic, Oxfam has warned. A report was presented by it before virtual meetings of finance ministers of the G20 group of leading developed and developing nations, the International Monetary Fund and the World Bank to give suggestions on how the dire situation can be avoided.

More than half a billion people across the world can be pushed below the poverty line due to the coronavirus pandemic, Oxfam has warned. A report was presented by it before virtual meetings of finance ministers of the G20 group of leading developed and developing nations, the International Monetary Fund and the World Bank to give suggestions on how the dire situation can be avoided. Also read: COVID-19 could lead to deepest economic recession of our lifetime: WTO It cited research by the King's College London and Australian National University estimating that 8 per cent of the world's population could be forced into poverty due to the adverse impact of COVID-19. The International aid group on Thursday urged world leaders to agree a comprehensive rescue package to muster some $2.5 trillion needed to prevent this outcome. Also read: European commissioners prod Germany over 'coronabonds' Among the measures that should be undertaken include the immediate cancellation of $1 trillion worth of developing country debt payments in 2020 and the creation of at least US$1 trillion in new international reserves. According to it, the economic fallout of the coronavirus risked setting back the fight against poverty by a decade, and as much as 30 years in some regions including Africa and the Middle East. "G20 Finance Ministers, the IMF and World Bank must give developing countries an immediate cash injection to help them bail out poor and vulnerable communities," said Jose Maria Vera, Oxfam International Interim Executive Director. Oxfam warned that while many wealthy nations have introduced multi-billion-dollar economic stimulus packages to support business and workers "most developing nations lack the financial firepower to follow suit." The warning comes right ahead of three key international meetings next week.

How COVID-19 can push half a billion people into poverty?

British unemployment has held at a 45-year low, official data showed Tuesday, despite headwinds from Brexit and the slowing global economy.

The unemployment rate remained at 3.8 per cent in the three months to April -- the lowest level since the final quarter of 1974, the Office for National Statistics (ONS) said in a statement.

The reading was unchanged from the rate in the quarter to March and matched market expectations.

"All in all, there's very little here to suggest any weakness" in the labour market, said analyst David Cheetham at online trading firm XTB.

However, he sounded a note of caution about the impact of Brexit and the slowing global economy.

"The overall picture for the UK economy remains one that is far from thriving and looks to be simply treading water, to be honest," Cheetham said.

"But given the dual headwinds of ongoing political uncertainty and a slowing global economy, the current level of activity could arguably be viewed as about as good as could be expected under these circumstances."

Official data Monday showed UK gross domestic product contracted 0.4 per cent in April on a slump in manufacturing caused largely by Brexit uncertainty.

British unemployment has held at a 45-year low, official data showed Tuesday, despite headwinds from Brexit and the slowing global economy. The unemployment rate remained at 3.

British unemployment has held at a 45-year low, official data showed Tuesday, despite headwinds from Brexit and the slowing global economy. The unemployment rate remained at 3.8 per cent in the three months to April -- the lowest level since the final quarter of 1974, the Office for National Statistics (ONS) said in a statement. The reading was unchanged from the rate in the quarter to March and matched market expectations. "All in all, there's very little here to suggest any weakness" in the labour market, said analyst David Cheetham at online trading firm XTB. However, he sounded a note of caution about the impact of Brexit and the slowing global economy. "The overall picture for the UK economy remains one that is far from thriving and looks to be simply treading water, to be honest," Cheetham said. "But given the dual headwinds of ongoing political uncertainty and a slowing global economy, the current level of activity could arguably be viewed as about as good as could be expected under these circumstances." Official data Monday showed UK gross domestic product contracted 0.4 per cent in April on a slump in manufacturing caused largely by Brexit uncertainty.

UK unemployment rate holds at 45-year low

I like sleeping outside, right underneath the bamboo rooftop on the balcony, falling asleep to Bihar&rsquo;s heavy rain and the wind rustling the coconut trees nearby. My eyes get heavy to the unpredictable rhythmic of the rain hitting our gravel dirt road. Without any walls, the sunrise busts in at 5:03 in the morning, making a scene, warming my cold nose, blinding me awake, telling me it&rsquo;s time to wake up. It is the most relaxing and beautiful sight I&rsquo;ve ever woken up to. I still wiggle out of my sleeping bag, step off my cot and lean over the balcony to soak in its red-orange warmth before sneaking back for a couple more hours of sleep.

When I first arrived at eArthshala, <a href="http://www.projectpotential.org/" rel="nofollow" target="blank">Project Potential</a>&rsquo;s campus, and I climbed the stairs to what is now my favourite spot, the bamboo rooftop balcony, I was hesitant because I imagined rain soaking through. I even tried to look for signs of water on the ground to prove my point but couldn&rsquo;t find any. I brushed it off, perhaps it hadn&rsquo;t rained for a few days? Eventually, I asked someone, wouldn&rsquo;t the rain slip through and soak whoever is up here? The answer was no, but I&rsquo;m not sure I actually believed them. I&rsquo;ve come to realise that bamboo is versatile. You can eat it, you can wear it and you can build a home with it, not to mention countless other things. And yet, I believed it to be both fragile and archaic.

I had to wonder &ndash; did the problem exist with natural materials such as bamboo and even mud, or was it merely a problem of the modern mind? The common misconception of bamboo or mud &ndash; natural materials used for construction &ndash; is that they are not as strong as cement and steel. However, these traditional structures are what we should rely on, as we face issues that human beings have yet to experience to this magnitude: A rapidly deteriorating planet, overpopulation, countless environmental issues, natural disasters and globally destructive wars.

As I marvel at the beauty of Project Potential&rsquo;s bamboo roof, I have to wonder: How can we begin to build on today&rsquo;s issues without damaging our environment further? How will we mass produce construction materials for places such as Aleppo, Syria, that desperately need them? How can we build sturdy homes with locally-sourced materials that can also withstand cyclones and earthquakes? How we decide to build for those that can not afford &lsquo;modern materials,&rsquo; or what materials we decide to use will nonetheless have an impact on our Earth.

In some &lsquo;developing&rsquo; countries like India and some &lsquo;developed&rsquo; countries like the United States, children and adults are conditioned to believe that mud houses are temporary, while brick and cement are permanent in nature; this is a fundamentally flawed argument, as natural materials like mud and lime plaster, when used appropriately, only strengthen over time (as demonstrated by mud structures built centuries ago and still standing). Withstanding time seems reasonable but structures made from earthen materials can also be used to rebuild for the next earthquake. In the face of natural disasters, these organic materials can still hold up. I myself was doubtful, thinking about the natural disasters that plagued our world in 2017, from heavy flooding in Bangladesh and Nepal to earthquakes in Mexico. It is indeed possible to build a structure &ndash; a home &ndash; with sustainable materials designed to meet not only contemporary needs but more specifically withstand earthquakes, flooding and other disasters.

<div class="ui-state-default" contenteditable="false"><img alt="" draggable="false" src="http://s.wionews.com/photos/esmeralda-pic-4-250x333-20171213083645.jpg" />
<div class="media-description">
Example of a bamboo house in a nearby village. (Others)
</div>
<a class="close-mark close-div" href="javascript:void(0)" id="jqclosemark">&times;</a></div>

However, it is important to point out that these organic homes aren&rsquo;t the only ones to withstand natural disasters. Thanks to modern technology, we have created shock absorbers and techniques that can save thousands of lives in a city, and allow skyscrapers to shake but still survive. Although this technology exists, it is quite costly and largely inaccessible and arguably an unnecessary development in some areas, not to mention irrelevant in certain parts of the world. Why not get back to the basics?

I am not advocating that we all tear down our buildings and move into earthen houses; mud and bamboo will not be the answer for everything and everywhere. However, I ask that we open our minds and view these materials as an intentional choice, instead of as poverty. That perhaps ideas of development and the right to development be open to debate so that locations that were robbed of resources, can view all their options with untainted societal pressures. Let&rsquo;s instead tear down stereotypes and build a humanity of intentionality. Let&rsquo;s stop teaching our children that mud houses are &lsquo;kachcha&rsquo; (wrong) and cement houses are &lsquo;pakka&rsquo; (right)&nbsp;because it will only harm us in the name of progress.

<div class="ui-state-default" contenteditable="false"><img alt="" draggable="false" src="http://s.wionews.com/photos/esmeralda-pic-5-680x510-20171213083803.jpg" />
<div class="media-description">
Architects visiting Project Potential&rsquo;s site and local houses to view how locals use bamboo, and how to assist us in thinking about our construction goals. (Others)
</div>
<a class="close-mark close-div" href="javascript:void(0)" id="jqclosemark">&times;</a></div>

Building our homes with intentionality, be it from organic material, or traditional processes, to the values we hope to encourage visitors to think about, is what Project Potential is doing right here in rural Bihar, close to the borders of Nepal and West Bengal. In March 2016, Project Potential sought to create an alternative learning environment for local youth so that they can explore new notions of self, community, and environment that would ultimately lead to meaningful employment.

It was with this goal in mind that we purchased a 15-acre campus through which we hoped youth will be exposed to skills required to make a sustainable living. We aim to frame eco-toilets, bamboo, mud construction and solar panels in a new way. We hope that these will create an 18- degree transformation through which youth will define their own values and interests (not by societal standards), and accordingly learn skills that they can use to sustain themselves, their communities, and the environment.

We see our campus &mdash; e???????? (eArthshala) from English earth and Hindi arth, which means both &lsquo;economy&rsquo; and &lsquo;meaning&rsquo; &mdash; as a gathering space for such learning. e???????? is meant to serve as a kind of &lsquo;ashram&rsquo; for our programs. In other words, through its design, practices and culture, the campus will be a space which inspires us toward better versions of ourselves and a better future, even if the core focus for the gathering is educational.

We strive to have positive effects on the local economy and be a catalyst for local development through everything we do, including construction. Together, our youth and campus would contribute to the image building of Bihar, and in turn, they could leverage the positive change in perception. Thus, our honest intent to bring in this transformation must be reflected in our spaces and design language.

Project Potential isn&rsquo;t just trying to tackle the youth unemployment crisis in Bihar; it also wants to understand how our organisation&rsquo;s presence makes a difference. From analysing the way in which we decide to engage youth, to the language we use to engage the community, to how we place ourselves within the community.

Ultimately, we desire to utilise the community&rsquo;s economy and natural materials that will protect the community and empower the people to create sustainable living. Bamboo can offer us shelter, food, clothing, a good fire, clean air; let us view it in the light, instead of poverty. Everything we need is right here.

This <a href="http://aif.org/mud-and-bamboo-houses-are-proving-our-stereotypes-of-poverty-wrong/" rel="nofollow">article</a> was originally published on&nbsp;29/ 11/ 2017 on <a href="http://aif.org/" rel="nofollow">American India Foundation</a>

(Disclaimer: The author writes here in a personal capacity).

It is indeed possible to build a structure ? a home ? with sustainable materials designed to meet not only contemporary needs but more specifically withstand earthquakes, flooding and other disasters.

I like sleeping outside, right underneath the bamboo rooftop on the balcony, falling asleep to Bihar’s heavy rain and the wind rustling the coconut trees nearby. My eyes get heavy to the unpredictable rhythmic of the rain hitting our gravel dirt road. Without any walls, the sunrise busts in at 5:03 in the morning, making a scene, warming my cold nose, blinding me awake, telling me it’s time to wake up. It is the most relaxing and beautiful sight I’ve ever woken up to. I still wiggle out of my sleeping bag, step off my cot and lean over the balcony to soak in its red-orange warmth before sneaking back for a couple more hours of sleep. When I first arrived at eArthshala, Project Potential’s campus, and I climbed the stairs to what is now my favourite spot, the bamboo rooftop balcony, I was hesitant because I imagined rain soaking through. I even tried to look for signs of water on the ground to prove my point but couldn’t find any. I brushed it off, perhaps it hadn’t rained for a few days? Eventually, I asked someone, wouldn’t the rain slip through and soak whoever is up here? The answer was no, but I’m not sure I actually believed them. I’ve come to realise that bamboo is versatile. You can eat it, you can wear it and you can build a home with it, not to mention countless other things. And yet, I believed it to be both fragile and archaic. I had to wonder – did the problem exist with natural materials such as bamboo and even mud, or was it merely a problem of the modern mind? The common misconception of bamboo or mud – natural materials used for construction – is that they are not as strong as cement and steel. However, these traditional structures are what we should rely on, as we face issues that human beings have yet to experience to this magnitude: A rapidly deteriorating planet, overpopulation, countless environmental issues, natural disasters and globally destructive wars. As I marvel at the beauty of Project Potential’s bamboo roof, I have to wonder: How can we begin to build on today’s issues without damaging our environment further? How will we mass produce construction materials for places such as Aleppo, Syria, that desperately need them? How can we build sturdy homes with locally-sourced materials that can also withstand cyclones and earthquakes? How we decide to build for those that can not afford ‘modern materials,’ or what materials we decide to use will nonetheless have an impact on our Earth. In some ‘developing’ countries like India and some ‘developed’ countries like the United States, children and adults are conditioned to believe that mud houses are temporary, while brick and cement are permanent in nature; this is a fundamentally flawed argument, as natural materials like mud and lime plaster, when used appropriately, only strengthen over time (as demonstrated by mud structures built centuries ago and still standing). Withstanding time seems reasonable but structures made from earthen materials can also be used to rebuild for the next earthquake. In the face of natural disasters, these organic materials can still hold up. I myself was doubtful, thinking about the natural disasters that plagued our world in 2017, from heavy flooding in Bangladesh and Nepal to earthquakes in Mexico. It is indeed possible to build a structure – a home – with sustainable materials designed to meet not only contemporary needs but more specifically withstand earthquakes, flooding and other disasters. Example of a bamboo house in a nearby village. (Others) × However, it is important to point out that these organic homes aren’t the only ones to withstand natural disasters. Thanks to modern technology, we have created shock absorbers and techniques that can save thousands of lives in a city, and allow skyscrapers to shake but still survive. Although this technology exists, it is quite costly and largely inaccessible and arguably an unnecessary development in some areas, not to mention irrelevant in certain parts of the world. Why not get back to the basics? I am not advocating that we all tear down our buildings and move into earthen houses; mud and bamboo will not be the answer for everything and everywhere. However, I ask that we open our minds and view these materials as an intentional choice, instead of as poverty. That perhaps ideas of development and the right to development be open to debate so that locations that were robbed of resources, can view all their options with untainted societal pressures. Let’s instead tear down stereotypes and build a humanity of intentionality. Let’s stop teaching our children that mud houses are ‘kachcha’ (wrong) and cement houses are ‘pakka’ (right) because it will only harm us in the name of progress. Architects visiting Project Potential’s site and local houses to view how locals use bamboo, and how to assist us in thinking about our construction goals. (Others) × Building our homes with intentionality, be it from organic material, or traditional processes, to the values we hope to encourage visitors to think about, is what Project Potential is doing right here in rural Bihar, close to the borders of Nepal and West Bengal. In March 2016, Project Potential sought to create an alternative learning environment for local youth so that they can explore new notions of self, community, and environment that would ultimately lead to meaningful employment. It was with this goal in mind that we purchased a 15-acre campus through which we hoped youth will be exposed to skills required to make a sustainable living. We aim to frame eco-toilets, bamboo, mud construction and solar panels in a new way. We hope that these will create an 18- degree transformation through which youth will define their own values and interests (not by societal standards), and accordingly learn skills that they can use to sustain themselves, their communities, and the environment. We see our campus — e???????? (eArthshala) from English earth and Hindi arth, which means both ‘economy’ and ‘meaning’ — as a gathering space for such learning. e???????? is meant to serve as a kind of ‘ashram’ for our programs. In other words, through its design, practices and culture, the campus will be a space which inspires us toward better versions of ourselves and a better future, even if the core focus for the gathering is educational. We strive to have positive effects on the local economy and be a catalyst for local development through everything we do, including construction. Together, our youth and campus would contribute to the image building of Bihar, and in turn, they could leverage the positive change in perception. Thus, our honest intent to bring in this transformation must be reflected in our spaces and design language. Project Potential isn’t just trying to tackle the youth unemployment crisis in Bihar; it also wants to understand how our organisation’s presence makes a difference. From analysing the way in which we decide to engage youth, to the language we use to engage the community, to how we place ourselves within the community. Ultimately, we desire to utilise the community’s economy and natural materials that will protect the community and empower the people to create sustainable living. Bamboo can offer us shelter, food, clothing, a good fire, clean air; let us view it in the light, instead of poverty. Everything we need is right here. This article was originally published on 29/ 11/ 2017 on American India Foundation (Disclaimer: The author writes here in a personal capacity).

Opinion: Mud and bamboo houses are not signs of poverty

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