Unemployment among young people in Chinese cities increased for the second month in February, after the general unemployment rate in the country, which reached the peak within two years, according to official data issued on Thursday (20).
The urban unemployment rate grew for 16 to 24 years, with the exception of students, from 16.1 % in January to 16.9 %, according to data from the National Bureau of Statistics.
The unemployment rate has already increased for adults between the ages of 25 and 29 years from 6.9 % to 7.3 %, while it decreased for people between the ages of 30 to 59 years, from 4.3 % to 4.0 %.
The national urban unemployment rate in China was at its highest level in two years, by 5.4 %, according to the data issued on Monday (17).
A China I stopped reporting the youth unemployment data after the unemployment rate from 16 to 24 years reached a record of 21.3 % in June 2023.
The National Bureau of Statistics published in December of that year resumed the methodology to exclude students.
The unemployment rate is not considered the candidates who have abandoned a job and do not establish unemployment in rural areas in China.
Leaders China I promised the strongest financial and monetary support for the economy, with a special focus on Motivating local consumptionSince the United States’ trade pressure makes its economic perspective difficult.
The country’s leaders have maintained the goal of economic growth from “about 5 %” to 2025, but analysts say they could be a difficult task, given pressure on exports, warm family demand and a long real estate crisis.
