Jobs
China’s Youth Unemployment Climbs for First Time Since February
- Government cited graduation as reason for rise in jobless rate
- Jobs data comes as other indicators point to sluggish economy
Attendees at a job fair in Shanghai in 2023.
Photographer: Qilai Shen/BloombergThis article is for subscribers only.
China’s youth unemployment rate rose for the first time in five months as an influx of graduates entered the labor market at a time when the economy is struggling to find a firm footing.
Joblessness among people aged 16 to 24 climbed to 17.1% in July, according to data released Friday by the National Bureau of Statistics. That’s a significant increase from 13.2% in June and is more than three times the overall unemployment rate.