China Youth Jobless Rate Hits Record 20.8% in Challenge for Policymakers
- Youth jobless rate is four times overall surveyed jobless rate
- More young graduates expected to enter workforce in summer
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China’s youth jobless rate edged up to a fresh record in May as the economy’s recovery slowed, adding to challenges for policymakers as new graduates join the workforce.
The unemployment rate among those aged between 16 and 24 reached 20.8%, up from 20.4% in April, according to data published by the National Bureau of Statistics on Thursday. That’s four times the overall surveyed jobless rate, which was unchanged at 5.2%.