Comments by "☨St Louis IX opposed paganism, hæresy \x26 debauchery" (@stlouisix3) on "Chinese Youth Are Crying ‘Can’t Bear It Anymore’: Salaries in Beijing u0026 Shanghai Hit an 8-Year Low" video.

  1. ! Unemployed woman in China expresses despair over job search and low wages. 00:00 The woman has been unemployed for over a year and is struggling to find a job. She feels less desirable to employers due to being unmarried and childless. The prevailing wage in most cities is between 1,000 to 2,500 yuan. 💰 The Chinese economy's stagnation is leading to a decline in wages and benefits for workers in major cities, causing anxiety and sleep loss. 03:02 Widespread decline in wages across major cities in China, affecting various sectors including finance and technology. High-earning bank executives facing salary cuts of up to 40%, indicating a halting growth trend of the Chinese economy. Significant drop in recruitment salaries in Shanghai and Beijing, with other cities also experiencing wage declines. 💼 The Chinese job market is facing challenges with oversaturation, declining salaries, and job cuts. 05:09 Ride-hailing services, food delivery services, and the real estate market are suffering in China. Many individuals are opting for postgraduate studies and civil service exams due to the challenging job market. The Chinese job market is worse than the official youth unemployment rate, impacting both private and public sectors. 💼 Chinese employees are willing to accept pay cuts of up to 50% due to conservative raises and promotions, government-mandated salary caps, and reduced benefits. 07:56 Chinese businesses are facing dwindling profits and are forced to comply with the government's push for 'common prosperity', resulting in salary cuts and reduced benefits. Top Chinese investment bank CITIC Securities slashed the base salaries of some senior employees by 15% and CICC mandated senior staff to fly economy class and choose the cheapest train tickets. Employees in the financial sector are experiencing reduced bonuses, leading to decreased morale and unmotivated behavior. 📉 The average salary for new employees in industries like electric vehicles, batteries, and solar and wind energy dropped 3.6% year-on-year in June, the most significant decrease since 2015. 10:50 Many job seekers in China are turning to civil service exams and public institution positions for stability, but even these jobs are experiencing salary cuts. Civil servants across China experienced waves of salary cuts in the first half of 2022, with reductions averaging 20-30%. Coastal provinces like Guangdong, Zhejiang, and Jiangsu were most impacted, with some local government officials reporting salary reductions of 25% and one-third.
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