China starts publishing youth jobless data again, with a new method and a lower number
China published youth unemployment data Wednesday for the first time since the jobless rate hit a record high in June last year, using a new method that showed an apparent improvement
HONG KONG (AP) — China published youth unemployment data Wednesday for the first time since the jobless rate hit a record high in June last year, using a new method that showed an apparent improvement.
China announced a 14.9% jobless rate for people between 16 and 24 in December, using the new method, which excludes students. The statistics bureau stopped publishing the politically sensitive figure last year, after it reached 21.3% in June.
It came as the National Bureau of Statistics announced that China's economy hit growth targets in 2023, following the end of the country's years of pandemic-era isolation.
The change in methodology came after youth unemployment surged following an economic slowdown in 2023. Regulatory crackdowns on sectors like technology and education, which typically employed a younger workforce, also made jobs harder to find.
