The youth unemployment rate in China for those under the age of 25 reached 14.5% in June, marking the lowest level in 12 months.
According to the National Bureau of Statistics of China on July 17, the unemployment rate among urban residents aged 16 to 24 (excluding students) was 14.5% in June, down 0.4 percentage points from the previous month’s 14.9%.
This is the lowest level in a year since June of last year, when it stood at 13.2%.
The unemployment rate for those aged 25 to 29 in June was 6.7%, down 0.3 percentage points from 7.0% in the previous month. For those aged 30 to 59, the rate was 4.0%, up 0.1 percentage points from 3.9% in the previous month.
However, compared to the overall unemployment rate, the youth unemployment rate remains high. On July 15, the National Bureau of Statistics announced that the nationwide urban unemployment rate for the first half of the year was 5.2%.
In June 2023, China’s youth unemployment rate soared to a record high of 21.3%. As a result, the government suspended the release of youth unemployment statistics, but since December of the same year, it has begun publishing a new youth unemployment rate that excludes middle and high school students as well as university students from the statistics.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
