Explaining the Unemployment and Academic Devaluation in China from the Demand and Supply Perspective

This study looks at China's increasing college graduate surplus and how it affects employment and academic devaluation. China's increased investment in higher education over the last few decades has led to a sharp rise in the number of graduates, surpassing the expansion of high-tech employment prospects. There is a mismatch in the employment market since there are more graduates than the available positions that require their qualifications. This has led to an increase in college graduates' unemployment. Furthermore, the value of a college degree has decreased due to an excess of degree holders. The study examines how several factors, both macro and micro, impact on the phenomenon. These factors include individual psychological influences such as the drive to get higher credentials for declining returns, labor market conditions, and larger economic trends. This study also explores the policies implemented by the Chinese government with the goal of fulfilling market needs, including encouraging vocational education and entrepreneurship among students, which aim to address the growing concern of academic devaluation.