Core Viewpoint - The article discusses the emergence of the "full-time children" phenomenon among youth facing employment difficulties, analyzing its characteristics, types, and underlying causes, while also exploring potential governance strategies to address this issue [2][3]. Group 1: Definition and Types of "Full-Time Children" - The term "full-time children" refers to young individuals who live with their parents and provide household services in exchange for economic support, distinguishing them from the "NEET" (Not in Education, Employment, or Training) group [9]. - The article categorizes "full-time children" into two types: short-term transitional and relatively stable. The former includes mainly young individuals who are temporarily living at home while seeking employment, while the latter consists of middle-aged individuals who have left the workforce to care for elderly parents [10][11]. Group 2: Characteristics of "Full-Time Children" - The majority of "full-time children" are young women, often facing significant employment challenges and high economic dependency on their families. Approximately 80% of them hold a bachelor's degree or higher [15][16]. - The relatively stable "full-time children" tend to have more life experience and may have left the workforce due to health issues or family caregiving responsibilities, often feeling both useful and ashamed of their situation [19][20]. Group 3: Social Causes of the "Full-Time Children" Phenomenon - The phenomenon is linked to broader economic trends, including a slowdown in economic growth and high youth unemployment rates, which have led many young people to become "full-time children" as a coping mechanism [27][28]. - Structural issues such as mismatches between education and job market demands contribute to the challenges faced by young job seekers, leading to a rise in the "full-time children" demographic [29][30]. Group 4: Governance Strategies for "Full-Time Children" - For short-term transitional "full-time children," governance strategies should focus on enhancing employment opportunities through economic stimulation and educational reforms to better align with market needs [38][39]. - For relatively stable "full-time children," strategies should include recognizing the value of caregiving roles, providing training and financial support, and improving the quality of elder care services to alleviate the burden on families [46][47].

Core Viewpoint - The phenomenon of "full-time children" has emerged as a response to increasing employment pressures and societal competition, leading to a significant online discourse and the formation of communities discussing this lifestyle choice [1][2]. Group 1: Definition and Types of "Full-Time Children" - "Full-time children" is a term that describes young individuals who live with their parents and provide various forms of support, including household chores and emotional care, while receiving financial support from their parents [6][7]. - This group can be categorized into two types: short-term transitional "full-time children," primarily young graduates facing employment challenges, and relatively stable "full-time children," often middle-aged individuals who have left the workforce to care for elderly parents [7][9]. Group 2: Characteristics and Experiences - The majority of "full-time children" are female, with a significant portion being recent graduates or individuals with some work experience [10][11]. - Short-term transitional "full-time children" often experience anxiety and pressure related to their employment status, while relatively stable "full-time children" may feel a mix of fulfillment from caregiving and anxiety about their future [18][19]. Group 3: Societal Causes of the "Full-Time Children" Phenomenon - The rise of "full-time children" is linked to broader economic challenges, including high youth unemployment rates and a mismatch between education and job market demands [22][25]. - The aging population in China has also contributed to the need for family-based caregiving, as many elderly individuals require assistance that is often provided by their children [28][29]. Group 4: Governance Strategies for "Full-Time Children" - To address the challenges faced by short-term transitional "full-time children," strategies should focus on enhancing employment opportunities and providing support for job-seeking efforts [34][35]. - For relatively stable "full-time children," it is essential to recognize and support their caregiving roles, potentially offering training and financial assistance to alleviate their burdens [46][49].

Core Viewpoint - The article discusses the phenomenon of "degree devaluation" in the context of the increasing number of university graduates in China, drawing parallels with Japan's historical experience during the 1990s economic downturn [2][3]. Group 1: Current Job Market Situation - The number of university graduates in 2023 is projected to reach a record 12.22 million, leading to the largest job-seeking wave in history [1]. - The offer acquisition rate for 2024 master's and doctoral graduates is only 44.4%, a decrease of 12.3% year-on-year, which is lower than the 45.4% rate for undergraduate graduates [1]. - The job market is increasingly competitive, with the employment rate for undergraduate graduates being lower than that of vocational school graduates [1]. Group 2: Historical Context and Lessons from Japan - Japan experienced a similar "degree devaluation" phenomenon in the 1990s, where a significant economic downturn led to a drastic drop in employment rates for university graduates [10][12]. - The 1990s marked a turning point for Japan, where the employment rate for graduates fell from 80% to below 70%, leading to a generation labeled as "lost" due to their struggles in the job market [10][30]. - The Japanese government attempted various measures to alleviate the employment crisis, including increasing the number of graduate students, but these efforts did not address the underlying issues of economic stagnation and job market demand [21][35]. Group 3: Economic Implications - The article highlights that the root cause of degree devaluation is not merely the oversupply of graduates but the lack of corresponding job opportunities due to economic stagnation and a failure to innovate [35][37]. - Japan's experience illustrates that without significant economic growth and innovation, an increase in educational attainment can lead to a surplus of graduates without adequate job prospects [35][37]. - The article concludes that creating new job opportunities through industrial upgrades and innovation is essential to prevent degree devaluation and ensure that higher education translates into economic productivity [35][37].

Core Viewpoint - The article discusses the phenomenon of "degree devaluation" in Japan, drawing parallels with the current situation in China, particularly in the context of the increasing number of university graduates and the challenges they face in the job market [4][5][6]. Group 1: Current Job Market Situation - The number of university graduates in 2024 is projected to reach a record 12.22 million, leading to the largest job-seeking wave in history [4]. - The offer acquisition rate for master's and doctoral graduates is only 44.4%, a decrease of 12.3% year-on-year, which is lower than the 45.4% for undergraduate graduates [4]. - The trend of increasing university graduates is expected to continue until it peaks at 14.45 million in 2038, indicating a persistent job market challenge for graduates [5]. Group 2: Historical Context of Degree Devaluation - The article references Japan's experience with degree devaluation, which began in the 1990s after the economic bubble burst, leading to a significant decline in employment rates for graduates [11][14]. - In 1992, the employment rate for university graduates began to drop, with figures falling from 80% to below 70% over the following years [14][21]. - The phenomenon of "degree devaluation" in Japan was characterized by a surplus of graduates and a shrinking demand for high-skilled labor, resulting in a generation of "high-education refugees" [33][40]. Group 3: Government Response and Policy Measures - The Japanese government implemented several measures to address the employment crisis, including the "Graduate Doubling Plan" and funding for postdoctoral researchers, aiming to increase higher education enrollment [30][31]. - Despite these efforts, the number of graduate students increased significantly, but the employment rate continued to decline, highlighting a mismatch between education and job market needs [32]. - The revision of the Labor Dispatch Law in 1999 led to a rise in non-standard employment, which provided short-term solutions but ultimately worsened job security for graduates [36][40]. Group 4: Lessons Learned and Future Outlook - The article emphasizes that the root cause of degree devaluation lies in the shrinking demand for skilled labor due to a lack of innovation and industrial upgrades in Japan [48][49]. - The current job market in Japan has shown signs of recovery, with a 98.1% employment rate for new graduates in 2024, attributed to demographic changes and a balance in supply and demand [46][47]. - The experience of Japan serves as a cautionary tale for other countries, including China, regarding the importance of aligning educational outcomes with labor market needs to prevent degree devaluation [53].