NANJING, China -- Zhang Weidong has been making the rounds at this city's weekend talent fair for more than a month now and can't understand why he hasn't landed a job.

"These companies are looking for employees, and I have a degree," says the 22-year-old computer major, clutching a plastic organizer stuffed with résumés, business cards and company information. "I don't know what I'm doing wrong."

Unemployed...