China’s Youth Jobless Rate Falls for a Third Month to 13.2%

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What’s new: China’s youth unemployment rate continued to fall in June to its lowest level since a new method for compiling data was introduced in January.

The jobless rate for people aged between 16 and 24 was 13.2% in June, down from 14.2% in May, according to data released by the National Bureau of Statistics (NBS) Wednesday.

The June figure marked a third monthly drop but is still more than double the overall unemployment rate of 5%.

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China's youth unemployment rate fell to 13.2% in June from 14.2% in May.
The general unemployment rate for those aged 16 to 24 is still more than double the overall rate of 5%.
The job market is under pressure due to a slow post-pandemic recovery and a property slump, affecting new graduates.

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What Happened When

June 2023：: The surveyed urban unemployment rate for people aged between 16 and 24 hit a record high of 21.3%.

January 2024：: A new method for compiling youth unemployment data was introduced.

May 2024：: The youth unemployment rate was 14.2%.

June 2024：: China’s youth unemployment rate continued to fall to 13.2%, its lowest level since the new method was introduced.

June 2024：: The overall unemployment rate for those aged 25 to 29 fell 0.2 percentage point to 6.4%.

June 2024：: The unemployment rate for people aged between 30 and 59 remained unchanged at 4% for the third month.

AI generated, for reference only

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