Xi Prioritizes Policies to Reduce Youth Unemployment in China

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What’s new: China’s President Xi Jinping pledged to prioritize policies to boost the job market and support youth employment during a Monday Politburo seminar.

“Employment is the most basic livelihood of the people, and it is related to the healthy development of the economy and society, and the long-term stability of the country,” Xi was quoted as saying by the official Xinhua news agency.

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President Xi Jinping emphasized boosting the job market and supporting youth employment during a Politburo seminar.
China faces a mismatch in job market supply and demand, aiming to create new job growth avenues through education, vocational training, and new business models.
Despite a gradual decline in urban unemployment to 5% in April, youth unemployment remains high, with 7.1% for ages 25-29 and 14.7% for ages 16-24.

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What Happened When

May 27, 2023：: China’s President Xi Jinping pledged to prioritize policies to boost the job market and support youth employment efforts during a Monday Politburo seminar.

April 2024：: China’s urban unemployment rate fell gradually to reach 5%, but unemployment among 25 to 29-year-olds remained at 7.1%, and unemployment for those aged 16 to 24 (excluding students) stood at 14.7%, down slightly from March 2024.

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