China's Youth Unemployment Rate Hits Record High of 18.8% in August

Record High Maintained Even After Applying New Statistics

China's youth unemployment rate for those under 25 in August was recorded at 18.8%. Despite the authorities introducing a new statistical method, it was reported as the highest by major foreign media on the 20th.

On that day, the National Bureau of Statistics of China announced that the youth unemployment rate for ages 16 to 24 in August was 18.8%. This figure is higher not only than June's 13.2% but also the previous highest record of 17.1% from the previous month. It is the highest number since Chinese authorities changed the youth unemployment statistics method in December last year.

The unemployment rate for those aged 25 to 29, also announced together, was 6.9%, higher than the previous month's 6.5%. The unemployment rate for those aged 30 to 59 was recorded at 3.9%, the same as the previous month.

China abruptly stopped releasing statistics after youth unemployment soared to 21.3% in June last year. Subsequently, in December last year, a new youth unemployment rate excluding students was announced, but it continued to maintain a high level around 14 to 15%.

While the change in statistical methods was explained as an effort to improve the effectiveness of statistics by targeting actual job seekers excluding middle, high school, and university students, there were criticisms that it was intended to lower negative figures.

The unemployment rate for August, announced by the National Bureau of Statistics of China on the 14th, was 5.3%, up 0.1 percentage points compared to July.