Not-So-Great Expectations

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COMMENCE HIRING: Students at Nanjing University celebrate their escape from the frying pan before entering the fire

Huang Lu knew it wouldn't be easy to find a job when she graduated from college last month. But when the 21-year-old from Anhui province in southeastern China started going to employment fairs and sending out résumés seven months ago, she didn't expect the job market would be quite so inhospitable. "I've had eight interviews so far," says Huang, an international-trade graduate of Anhui University of Finance & Economics, "but I still don't have a decent offer. And I just had an export-import company in Shanghai cancel an interview. They told me, 'We're not hiring anymore, our business is...