China's Job Crisis

When we think about the instability in the job market many of us recognize the problems facing the United States and Europe, seldom do we think of China as having a similar issue. China and several other Asian countries are supposed to be the solution, picking us up out of the financial crisis. However, China is dealing with its own unemployment crisis. With the decreased demand of Chinese exports many companies are downsizing. Although the Chinese unemployment rate of 4.3% is well below that of the United States and the EU, the rate is still severe for the nation.