Summary
In urban China, about 20 million young people, aged 15 to 29, are currently jobless. This high unemployment rate highlights ongoing economic challenges despite recovery efforts and stimulus measures. China's unique way of counting unemployed youth, which excludes students and those in part-time work, shows a jobless rate of 12%.
Key Facts
- Approximately 20 million young people in urban China are unemployed.
- Unemployment among Chinese aged 15 to 24 in urban areas is nearly 17%.
- The broader age group of 25 to 29 has an unemployment rate of 7.2%.
- China's method of counting unemployment excludes students and part-time workers.
- The country saw extremely high unemployment rates exceeding 21% in 2023.
- China's overall urban unemployment rate is 5.1%.
- The job market remains a concern amid high numbers of university graduates.
- The Chinese government's changes to calculation methods make unemployment rates appear lower compared to international standards.
