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Is China's Real Unemployment Rate Higher Than America's?

Yes, according to a new report
relates to Is China's Real Unemployment Rate Higher Than America's?
Photographer: Tomohiro Ohsumi/Bloomberg

China isn't known for the stellar reliability of its economic indicators, but its quarterly measure of the unemployment rate -- amazingly steady at around 4 percent for the past decade -- is regarded so poorly that most analysts and investors don't bother to follow it.

By contrast, the U.S. jobs report is like the Super Bowl or World Cup on the first Friday of every month for financial markets and those of us in the economy nerdosphere.