As students graduate in China, youth unemployment rises

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As students graduate and China’s economic recovery stalls due to viral disruptions and falling global demand, its youth jobless rate has risen to its highest level this year.
According to statistics from the National Bureau of Statistics, the jobless rate for individuals aged 16 to 24 – which includes high school and college graduates – increased to 16.2% this month from 15.4% in June.
This year, a record 9.09 million students will graduate, putting pressure on the labour market and the government to guarantee that enough employment is available.
The youth unemployment rate was more than three times that of the general unemployment rate, which increased to 5.1% in July, the highest figure since the statistics office began publishing data for this age group regularly in February.
The youth unemployment rate was more than three times that of the general unemployment rate, which increased to 5.1% in July, the highest figure since the statistics office began publishing data for this age group regularly in February.
However, he stated that “the general employment situation remained stable” this year. The total unemployment rate was lower than the 5.7 per cent reported in the same month in 2020 and the 5.3 per cent reported in 2019. According to Mr Bruce Pang of China Renaissance Securities Hong Kong, the data shows that the job market is still under pressure.
In the future, the government will need to take steps based on the recommendations of the Politburo meeting, such as expanding employment services for college graduates, making it easier for migrant workers to find a job, and better protecting the rights of gig economy workers,” he said.
China’s Cabinet on Monday declared that employment should be prioritised with more supportive fiscal and monetary measures.

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