China's youth jobless rate dips in March to 16.5%
This reverses a two-month rise as the country pledges more efforts to boost youth employment
[BEIJING] Joblessness among young people in Chinese cities dipped in March, reversing a two-month rise, official data showed on Thursday (Apr 17), as the Chinese leadership pledges more efforts to boost youth employment.
The urban jobless rate for 16-to-24-year-olds, excluding students, dipped slightly to 16.5 per cent from 16.9 per cent in February, according to data from the National Bureau of Statistics (NBS).
The unemployment rate for 25-29-year-olds fell to 7.2 per cent from 7.3 per cent, and the jobless rate for 30-59-year-olds was down to 4.1 per cent from 4.3 per cent.
China’s nationwide survey-based urban jobless rate stood at 5.2 per cent in March, against a two-year high of 5.4 per cent the previous month.
China stopped reporting data for youth joblessness for months after the unemployment rate for 16-24-year-olds hit a record 21.3 per cent in June 2023.
The NBS resumed publishing the closely watched benchmark in December that year, after changing the system to exclude students.
The jobless rate does not account for job seekers who have given up on finding work, and does not assess the unemployment situation in rural China.
The world’s second biggest economy has vowed to adopt stronger fiscal and monetary support for its economy as it aims for growth of around 5 per cent this year.
China’s State Council, or the Cabinet, released new guidelines on building a high-quality system of employment services for university graduates this month. REUTERS
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