Chinese graduates face tough job market

BEIJING, Oct. 14 (UPI) -- The global financial crisis has put a damper on job prospects for fresh graduates in China.

With an already tough job market, many of the students said they fear the future for new college graduates will be bleak, China Daily reported Tuesday.

More than 6 million new college graduates are expected to come into the job market next year, up 7 percent this year, official figures said.

"This year, the number of new recruits in the job market has halved and most positions are for experienced applicants only," Carol Cai with the British market research company TNS told the China Daily.

Tang Xiaolin, director of the career development at Fudan University, said employers prefer applicants with experience.

The report said graduates in once popular fields such as banking, finance, trade and management are finding it just as tough to find jobs as others.

One graduate in international commerce told China Daily "Companies are still making presentations on campus. However, this is more of self promotion than real recruitment because they have cut their job plans."

The report said competition in a shrinking job market is being made tighter by those returning from studies abroad.