CX Briefing: Youth Unemployment Surges

A rundown of the news making headlines in and around China:

Joblessness: China’s surveyed urban youth unemployment rate jumped in July as new graduates entered the job market. The figure for 16- to 24-year-olds hit 17.8%, up 3.3 percentage points from the month before and 0.7 percentage points from the same period last year. It’s the second highest since the country began reporting the rate under a new method early last year to exclude current students. The overall surveyed urban unemployment rate ticked up to 5.2% in July, unchanged from a year earlier.