After school I find many that jump from job to job doing fairly lackluster work. They don't stay in one place long enough to advance in the company
Too true!
Many will get so frustrated at their senior year job search, that' they'll finally take a job, any job, just to get their parents off their back. Then they'll slog along until Spring Festival time, collect their Spring Festival bonus, and just quit and, as you said, live with mom and dad and start looking again.
(As an aside, I tell my students that one of the best times of the year to find a job is the 2 or 3 days after Spring Festival ends. A few Chinese managers have told me that they always have immediate openings because almost always, a few employees will just not show up after Spring Festival, having collected their bonuses a few weeks earlier, gone home and decided to quit without notifying anyone.)