China’s youth seek stability over entrepreneurship as economy lags – South China Morning Post

Report on Shifting Career Aspirations of Chinese Gen Z and Implications for Sustainable Development Goals

Executive Summary

A recent study by Forvis Mazars reveals a significant shift in the career aspirations of China’s Generation Z (born 1995-2009). The findings indicate a move away from entrepreneurship towards freelance and public sector roles, a trend with profound implications for achieving Sustainable Development Goal 8 (Decent Work and Economic Growth). This report analyzes these preferences, contextualizing them within the framework of the SDGs, particularly focusing on decent work, economic stability, and the future of innovation.

Survey Findings: A New Career Landscape

Based on a survey of 4,171 young Chinese individuals, the report highlights a clear preference for flexibility and security over the risks associated with entrepreneurship. This shift reflects current economic conditions and directly impacts the nature of future workforces, a core concern of SDG 8.

Ranking of Ideal Career Paths:

1. Freelancer: 49%
2. Public Sector Employee: 47%
3. Technical Professional: 39%
4. Corporate Employee: 34%
5. Entrepreneur: 31%

Analysis of Trends and SDG Implications

The observed preferences present both opportunities and challenges for sustainable development, particularly in relation to SDG 4, SDG 8, and SDG 10.

SDG 8: Decent Work and Economic Growth

• Rise of Freelancing: The popularity of freelance work aligns with the global trend towards a gig economy. While offering flexibility, it raises concerns about job security, social protection, and access to benefits, which are central tenets of the “decent work” agenda.
• Decline in Entrepreneurship: The waning interest in starting businesses, attributed to economic uncertainty, poses a risk to long-term economic growth. Entrepreneurship is a key driver of innovation and job creation, essential for achieving SDG 8 targets.
• Preference for Public Sector: The strong desire for public sector employment underscores a search for stability and security, highlighting a potential gap in the private sector’s ability to provide what is perceived as “decent work” in the current climate.

SDG 4: Quality Education

• The data suggests a need for educational systems to evolve. Curricula should equip students with the skills required for freelance and technical professions, focusing on adaptability, digital literacy, and financial management to thrive in non-traditional work environments.

SDG 10: Reduced Inequalities

• The transition towards a freelance-dominated workforce could impact income inequality. Without adequate policy and social safety nets, gig economy workers may face greater economic precarity, potentially widening the gap between those in stable employment and those in flexible but insecure roles.

Conclusion

The career ideals of China’s Generation Z signal a fundamental realignment of workforce values, driven by economic realities. This shift necessitates a strategic response from policymakers and educators to ensure that the future of work aligns with the principles of the Sustainable Development Goals. Fostering an environment that supports both secure, decent work and sustainable entrepreneurship will be critical for achieving inclusive and sustainable economic growth as outlined in SDG 8.

SDGs Addressed in the Article

SDG 8: Decent Work and Economic Growth

• The article directly addresses issues of employment, career choices, and economic conditions, which are central to SDG 8. It discusses the career aspirations of “260 million young Chinese” (Generation Z), highlighting a shift in preferences influenced by the economic climate. The focus on “freelancer” as the top career choice, the waning appeal of “entrepreneurship,” and the challenges of a “laggard economy” all relate to the goal of promoting sustained, inclusive, and sustainable economic growth, full and productive employment, and decent work for all.

Specific Targets Identified

Target 8.5: By 2030, achieve full and productive employment and decent work for all women and men, including for young people and persons with disabilities, and equal pay for work of equal value.

• This target is relevant as the article’s core subject is the employment preferences and challenges of young people in China. The survey of “those born between 1995 and 2009” focuses specifically on this demographic. The desire for “flexibility and financial freedom” reflects the qualitative aspect of “decent work.” The article’s mention of a “laggard economy” diminishing the allure of starting a business points to the challenges in achieving “full and productive employment” for this group.

Target 8.6: By 2020, substantially reduce the proportion of youth not in employment, education or training (NEET).

• Although the target date has passed, its objective remains highly relevant. The article provides a direct example of a young person at risk of being in the NEET category: “23-year-old Crystal Pang, a recent graduate with an education degree currently job-hunting in Shenzhen.” This anecdote illustrates the struggles young graduates face in transitioning from education to employment, a key concern of this target. The overall economic context described, where the “economy was poor during the Covid-19 pandemic, and it’s even worse now,” suggests an environment where the proportion of youth in the NEET category could increase.

Indicators Mentioned or Implied

Indicator 8.5.2: Unemployment rate, by sex, age and persons with disabilities.

• The article implies issues related to the youth unemployment rate. While it does not provide a specific statistic, the statement that the economy is “laggard” and the personal account of a recent graduate “job-hunting” point to difficulties in the youth labor market. The survey results, showing a shift towards seemingly more stable or flexible jobs like “public sector employee” and “freelancer” over riskier “entrepreneurship,” can be interpreted as a reaction to a challenging job market and high perceived unemployment risk for young people.

Indicator 8.6.1: Proportion of youth (aged 15-24 years) not in employment, education or training (NEET).

• This indicator is directly implied through the profile of “23-year-old Crystal Pang.” As a “recent graduate” who is “currently job-hunting,” she represents the very demographic measured by the NEET indicator. The article’s focus on the career survey of Generation Z (born 1995-2009) is centered on the age group most affected by this indicator. The difficult economic situation described is a primary driver that could lead to a higher proportion of youth falling into the NEET category.

SDGs, Targets, and Indicators Analysis

Source: scmp.com