Lim Wu

According to public reports in China, the unemployment rate among youth aged 16 to 24 reached 21.3% in June 2023, increased from 17.6% in 2022. It is without doubt to say that this year has been the worst in the past ten years . However ,it may turn out to be the best year in next decade. We’d better prepare ourselves for a potential economic recession in the future.

Here are some ways I have been exploring , which may inspire ideas for what you can do:

1. Enhance domain knowledge within your current industry:
   As we know , economies go through cycles of ups and downs. It is a good opportunity to consider our long-term goals carefully . For instance , my ideal job is working for an international company that offers a good work-life balance as I get older. After searching the job requirements in the market, I noticed that business analysis is one of the most popular positions in various industries, including my current one.That is why I am planning to prepare for a Master’s program. I am hoping that I can get an offer in two years in the field of business analysis.
2. Reduce your costs as much as you can:
   The more savings we have , the more confident we feel in facing a potential economic recession. I am not asking you to downgrade your consumption; I am simply suggesting that you would be better off considering your expenses carefully. I have managed to reduce my daily costs by 30% with the same quality of life as before. Here are some ways I have been saving money:
   • Making a cup of coffee and bringing it to my office in a Thermos every workday.
   • Taking public transport instead of a taxi.
   • Having a homemade dinner at least twice on workdays.
   • Purchasing promotional bread for breakfast after 9 PM.
   • Avoiding unnecessary clothing purchases.
3. Pay more attention to your mental health:
   Your well-being is the key to unlocking a brighter future, especially your mental health. Many of us were not taught how to deal with negative emotions; we usually overlook our depression in daily life .It is utterly important to unwind when we are overwhelmed. There are serval ways to relieve our pressures:
   • Talking with your close friends. You may find that many of us are facing the same problems, you are not alone.
   • Engaging in regular workouts, such as running , cycling and other physical activities, can contribute to better sleep and higher energy levels.
   • Practicing vent writing with no intention of sending it to anyone. It gives us a safe space for self expression.