China’s youth unemployment soars above 17% in July

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China’s youth unemployment soars above 17% in July

People visit a job fair on July 20, 2024 in Zhangjiagang, Jiangsu Province of China. 

Vcg | Visual China Group | Getty Images

BEIJING — China’s youth unemployment rate soared above 17% in July to the highest level since the new system of record-keeping began in December, according to the National Bureau of Statistics.

The unemployment rate for people in China ages 16 to 24, and not in school, rose to 17.1% last month, according to the latest data update Monday. That’s up from 13.2% in June.

China had suspended reports of the youth unemployment rate for much of the second half of last year as it said it was reassessing its calculation methods. The new jobless rate for young people excludes those who are still in school, as more people in China pursue higher education amid a more competitive job market.

The final figure reported under the prior calculation method showed unemployment for people ages 16 to 24 reached a record high of 21.3% in June 2023.

The urban unemployment rate across all age categories ticked higher to 5.2% in July versus 5% in June, data released Thursday showed. Statistics bureau spokesperson Liu Aihua attributed the rise in the urban jobless rate in July to graduation season, while acknowledging pressure on employment overall — including structural challenges in which businesses cannot find suitable workers.

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