Based on the stress interaction theory, this research constructed a model to study the joint moderating effects of the perception reduction of employment opportunities under the COVID-19 epidemic on the employment pressure of college students. With two moderating variables introduced, employment policy support and job-searching self-efficacy, this research studied the mechanism and boundary conditions of perception reduction of employment opportunities on employment pressure of college students from both individual and environmental aspects. The study found that during the epidemic if college students perceived fewer employment opportunities, they could have greater employment pressure from themselves, schools, and families; and that under the joint moderation of employment policy support and job-searching self-efficacy, the perception reduction of employment opportunities under the COVID-19 epidemic, the employment pressure of college students, universities, and families were connected, with different adjustment mechanisms. Based on empirical data, this research can provide theoretical enlightenment and practical guidance for the government, universities, and families to alleviate the employment pressure on college students during the epidemic.

This research constructed a relationship model between human capital, social capital, and the employability of college students. With two moderating variables introduced, the perception reduction of employment opportunities under the COVID-19 epidemic and future career clarity, this research studied the direct impact of human capital and social capital on the employability of college students and boundary conditions. Research data from 810 employed Chinese college graduates shows that both human capital and social capital have a positive and significant impact on the employability; the perception reduction of employment opportunities under the COVID-19 epidemic negatively regulates the relationship between human capital and the employability of college students; the future career clarity positively regulates the relationship between human capital and the employability of college students; the perception reduction of employment opportunities under COVID-19 epidemic and the future career clarity jointly regulate the relationship between human capital, social capital and the employability of college students. These conclusions enrich the relevant theoretical and practical research on the employability of college students under the COVID-19 epidemic.