Prof. Li Daokui of Tsinghua University said because not all sectors are affected by the recession overseas, the prospect of employment isn't as dire as some people feel.

The government announced a 4 trillion yuan stimulus package to boost the economy and domestic demand.

"As long as China's economy maintains 9 percent growth, 10 million new jobs can be created every year," Li said.

Meanwhile, students are encouraged to think more creatively when applying for jobs, for example, they need to lower their salary expectations or consider working in rural instead of urban areas.

In a country with more than 1.3 billion people, college education used to be considered a guarantee for good income, a decent work place and a passport to big cities like Beijing and Shanghai. Things have changed now.

Jin said financial risk management companies and consulting firms were his first choice for work because entry-level income can be at least 7,000 yuan a month.

"Now 5,000 yuan or even lower is acceptable, as long as I work in the financial field," he said.

The financial crisis has also made government jobs an unexpected favorite among graduates.

A total of 775,000 people applied for a national examination to qualify as government servants. That's the highest number since 1994 and 130,000 people more than applied last year, said Yang Shiqiu, Deputy Minister of Human Resources and Social Security.

"Only 13,500 persons will be recruited, meaning less than two in every 100 people will succeed," he said.

(Xinhua News Agency November 21, 2008)