China’s youth unemployment rate hit record for 2nd straight month in May, 6 mln young people unemployed last month
DATA MACRO
China’s youth unemployment rate hit record for 2nd straight month in May, 6 mln young people unemployed last month
DATA MACRO

China’s youth unemployment rate hit record for 2nd straight month in May, 6 mln young people unemployed last month

 

>>REAL-TIME UPDATES IN THE WIRE. CLICK HERE<<<

 

 

China unemployment rate for those aged between 16 and 24 rose to 20.8% marking a new record high, up from 20.4% in April, which was already a record high, the National Bureau of Statistics said. 

Overall urban unemployment remained at 5.2%, the NBS said. 

China’s youth unemployment rate is at a high level, said Fu Linghui, spokesperson of the National Bureau of Statistics.

The total number of young people aged 16-24 years old stood at more than 96 million in May, including many school graduates, and more than 33 million of them have entered the labor market looking for jobs, of which 26 million have already found jobs, leaving about 6 million still looking for jobs, he said. 

Currently, there are more than 6 million unemployed young people and as the economy continues to improve, employment situation is expected to remain generally stable, he said.