Jobs
China’s Record-High Youth Unemployment Rate Likely to Worsen
- Youth labor market weak despite drop in overall jobless rate
- Roughly 12 million more graduates to hit job market in 2023
Jobseekers at an employment fair in Chongqing in April 2023.
Photographer: AFP/Getty Images
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China’s record high youth unemployment rate may climb further in the months to come, a warning sign that will pressure policymakers to take action.
The jobless rate for 16-to-24 year olds hit 20.4% last month, nearly four times the national rate, data from the National Bureau of Statistics showed Tuesday. Pressures will probably only grow this summer, when an estimated 11.58 million graduates are expected to flood the market.