China’s youth unemployment rate falls for third consecutive month By Reuters
Beijing – Youth unemployment in China’s cities fell for the third consecutive month in November after reaching the highest level this year in August, official data said on Wednesday.
The urban unemployment rate for 16- to 24-year-olds, excluding students, fell to 16.1% from 17.1% in October, according to data from the National Bureau of Statistics.
The unemployment rate for 25-29 year olds also fell, falling slightly to 6.7% from 6.8%, while the unemployment rate for 30-59 year olds was unchanged at 3.8%.
The national unemployment rate was 5% in November, according to data released by the statistics office on Monday.
China has stopped reporting data on youth unemployment for months after the unemployment rate for 16-24-year-olds hit a record 21.3% in June last year.
The National Bureau of Statistics has resumed publishing the most viewed benchmark in December 2023 after changing its methodology to exclude readers.
The unemployment rate also does not count job seekers who have stopped looking for work, and it does not examine the unemployment situation in rural China.
China’s economic recovery has been fragile this year amid sluggish domestic demand and a lingering commodity crisis, although some officials expect the economy to reach its 2024 growth target of around 5%.
The government has announced a wave of stimulus measures to strengthen the economy ahead of the external storms expected in the second Trump administration in the United States next year.
Chinese government advisers also recommended that Beijing should maintain an economic growth target of around 5.0% next year, pushing for stronger fiscal stimulus to cushion the impact of Trump’s tariff hikes on the country’s exports.
