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That unemployment rate had previously climbed to records above 20%. China also reported fourth-quarter GDP figures, which were slightly below expectations, bringing 2023 growth to 5.2%.
Unemployment rate (2021) [1] This is a list of countries by unemployment rate.Methods of calculation and presentation of unemployment rate vary from country to country. Some countries count insured unemployed only, some count those in receipt of welfare benefit only, some count the disabled and other permanently unemployable people, some countries count those who choose (and are financially ...
China’s youth unemployment rate in August rose to the highest level since the new system of record-keeping began in December, driven by an economic slowdown and restrictive hiring policies ...
The unemployment rate for people in China ages 16 to 24, and not in school, rose to 17.1% last month, according to the latest data update Monday. That’s up from 13.2% in June.
The youth unemployment rate in China is worth noting due to young workers representing a significant proportion of China's workforce. During 2004 to 2009, [ 47 ] it was easy for a low-skilled young workers to find jobs; however, due to economic stagnation, young workers today may face increasing difficulties in seeking or maintaining jobs.
In Japan and South Korea, youth unemployment rates were at historic lows. The U.S. Bureau of Labor Statistics reported that youth unemployment in July was 9.8%, up from 8.7% the same period last year.
Since January 2023, the unemployment rate among young people in China has risen. Since July 2024, the youth unemployment rate has been steadily above 17%. Many are discouraged by what they perceive to be poor working conditions. [9]
(China’s general urban unemployment figure—which the bureau did release on Tuesday—was 5.3% in July, up 0.1 percentage points from the month prior). Youth unemployment is now a major crisis ...