The root cause of China's youth unemployment crisis.

Goldman Sachs analysts suggest that the record unemployment among China's young people is partly due to a mismatch between their majors and available jobs. Graduates from vocational schools studying education and sports rose by 20% in 2021 compared to 2018, but the education industry's demand for new hires weakened during the same period. Chinese authorities are trying to address youth unemployment by expanding vocational training and the services sector, which accounts for just under half the jobs in China.