China’s Weakening Economy Is Creating a Lost Generation

是这样的,找不到出口。

Many top employers, including tech giants Alibaba and ByteDance, have been quietly cutting staff. Although the companies aren’t publicly blaming AI, the technology has been a factor, people familiar with the matter say. Other industries, from filmmaking to finance, are using AI to scale back hiring.

Beijing has gone all in on the technology, urging companies to rapidly embrace AI to make the economy more competitive. But there are signs officials are also growing concerned about the impact on social stability. They’ve warned employers not to cut jobs as they adopt AI, people familiar with the matter say.

The warnings came after Vice Premier He Lifeng polled China’s biggest employers last year, and some estimated AI could wipe out 30% or more of their existing roles, the people said. He seemed shaken by the responses, one said.

As job losses pile up, the typical milestones of adulthood—financial independence, a stable career, marriage, parenthood—are feeling out of reach for much of Gen Z.

The urban jobless rate among 16- to 24-year-olds, excluding students, stands at roughly 19% as of August, compared with about 9% among the same age group in the U.S. It’s 7.5% for those aged 25 to 29, compared with 5.3% in the U.S., and above China’s overall unemployment rate of around 5%. Wage growth has stagnated.

Source: China’s Weakening Economy Is Creating a Lost Generation – WSJ

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