2 weeks ago

China Youth Unemployment Rises as Record Graduates Enter Market

China has many young people looking for work.

In July, the official youth unemployment rate reached 17.9 percent.

This happened as a record 12.7 million university graduates began searching for jobs.

At the same time, China’s economy has been growing more slowly.

Property and construction businesses are hiring fewer people than before.

Some companies are cutting staff or pausing new hiring.

Many graduates are choosing more education or government jobs instead.

The government is giving companies incentives to hire young workers.

New technology and automation may also reduce the number of simple entry-level jobs.

Key facts

Youth unemployment: 17.9% in July among people aged 16–24, excluding students.
Monthly change: The rate rose from 14.9% in June.
University graduates: 12.7 million graduates entered the job market in July and August, up 4% from last year.
Ages 25–29: Unemployment rose to 7.2% in July from 7.1% in June.
Economic growth: China’s quarterly expansion was reported at 4.3% in the second quarter, down from 5% in the first quarter.
Government response: Measures include hiring subsidies and pressure on state-owned enterprises to offer more positions.
Reported record comparison: The article calls July’s rate the second-highest in recent years, while also citing 18.9% in August of the previous year as a higher rate.

telegraphindia.com · 2 weeks ago