In this article, the author discusses the perilous state of Chinese university graduates in seeking jobs. This pressure has given people many valuable insights, enabling them to look at the problems among university students and the direction of higher education development from a new perspective. To overcome this problem, the State Council held a work meeting on employment for university graduates to mobilize all of society and strengthen a sense of responsibility to comprehensively deal with all aspects relating to the employment of university graduates. The central authorities and related departments of the State Council jointly released and implemented a 107-item employment policy for university graduates. Each locality's Party committee and government had to incorporate graduate employment into their collective plans for local employment and re-employment work. Each higher education institution had to "throw themselves into the work project" of graduate employment by greatly strengthening guidance, leadership, and service for university graduates seeking jobs, vigorously promoting employment for university graduates. After jointly making great efforts, the 2003 employment rate for university graduates appears to be no lower than the predicted rate for the same period of 2002. The national employment rate for graduates had reached 70 percent, and of this there was a 94 percent postgraduate employment rate, 83 percent undergraduate employment rate, and 55 percent employment rate for graduates of higher specialist vocational colleges.