Shanghai Jobless Rate Soars Amid Covid-19 Lockdowns

What’s new: Shanghai’s urban unemployment rate climbed to 12.5% in the second quarter, according to the National Bureau of Statistics, making it the only province-level area in China with a double-digit jobless level during the period.

After enduring severe Covid-19 lockdowns in April and May, unemployment in the city is now double the national average of 5.8%. Its half-year figure of 8.9% is also 3.2 percentage points higher than the national level.