Chinese youth unemployment reaches record 18.8% in August


09/24/2024

According to a report from China's State Statistics Office (SSO), the unemployment rate for 16-24-year-olds, not including students, increased to a historical high of 18.8 percent in August, up from 17.1 percent in July.



阿 俊
The level in July was the highest on record as well.

In the meantime, the unemployment rate for individuals aged 25-29, not including students, reached a four-month peak of 6.9%, rising from 6.5% in the previous month. The percentage for individuals aged 30 to 59 remained steady at 3.9%.

Liu Aihua, representing the office, linked the increase in joblessness to the unprecedented entry of 11.79 million graduates into the national job market during the summer.

Previously, the Chinese government implemented various strategies to encourage the employment of college graduates, which included offering subsidies.

The unemployment rates mentioned do not consider those living in rural areas.

source: cgtn.com