HMM: China has an unemployment problem. Why nearly 20 percent of young job-seekers can’t land a job.
Dissatisfaction among the young generation in China has spiked recently, and it’s not hard to see why. Chinese students face intense competition at school and at universities — and lately they have also spent stretches of time in strict covid lockdowns, many stuck in tight dorm rooms. Worse, perhaps: The payoff is increasingly elusive — it has become harder and harder to find a job.
New data released on Saturday by China’s National Bureau of Statistics shows that youth unemployment hit 19.3 percent in June. It’s the highest level since the data was first made public four years ago; back then, the figure was as low as 9.6 percent.
Previously: China working-age population shrinks, presenting pitfall for pension plans.
h/t Stephen Green
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