Wednesday, August 21st 2024, 1:04:27 am
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BEIJING (Reuters) -Rising unemployment in China is pushing millions of college graduates into a tough bargain, with some forced to accept low-paying work or even subsist on their parents' pensions, a plight that has created a new working class of "rotten-tail kids". The phrase has become a social media buzzword this year, drawing parallels to the catchword "rotten-tail buildings" for the tens of millions of unfinished homes that have plagued China's economy since 2021. A record number of college graduates this year are hunting for jobs in a labour market depressed by COVID-19-induced disruptions as well as regulatory crack-downs on the country's finance, tech and education sectors.