China's Youth Jobless Rate Falls to 14.9% in June as 12.7 Million Graduates Loom
Updated
Updated · South China Morning Post · Jul 21
China's Youth Jobless Rate Falls to 14.9% in June as 12.7 Million Graduates Loom
3 articles · Updated · South China Morning Post · Jul 21
Summary
China’s 16-24 jobless rate, excluding students, fell 0.7 percentage point to 14.9% in June, marking a third straight monthly decline and helping pull down the overall urban unemployment rate.
NBS said the labor market rebounded after the Spring Festival as companies ramped up for seasonal peak operations, with hiring expanding in services, retail, transport and information technology.
The 25-29 jobless rate also edged lower to 7.1% from 7.2%, while nationwide employees worked an average 48.2 hours a week.
A record 12.7 million students are due to graduate this summer—about 4% more than last year—creating seasonal pressure that could push youth unemployment higher in July and August.