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Updated · Reuters · Jun 22China Youth Jobless Rate Falls to 15.6% in May, Hitting 11-Month Low
1 articles · Updated · Reuters · Jun 22Summary
- 15.6% — China’s jobless rate for 16-to-24-year-olds excluding students fell in May, the lowest reading in 11 months.
- 7.2% unemployment among 25-to-29-year-olds, down from 7.4% in April, showed the improvement extended beyond the youngest cohort.
- 4.1% joblessness for people aged 30 to 59, versus 4.2% a month earlier, pointed to a broader but modest easing in labor-market pressure.
Insights
With a historic property crisis and 12.7 million new graduates, is China's slight jobs improvement a mirage? As China automates to solve its worker shortage, what future awaits its millions of unemployed youth? As youth embrace 'lying flat' from economic despair, can Beijing revive ambition before disillusionment boils over?