According to the National Bureau of Statistics (NBS), China’s unemployment rate for the 16-24 age group fell to 13.2 percent in June, excluding students, and has gradually improved over the past three months.
After shrinking to 14.2 percent in May, the youth unemployment rate fell further by a full percentage point last month.
Meanwhile, the unemployment rate for the 25-29 age group, excluding students, was 6.4 percent in June and marked the same decline for the third consecutive month, while the rate for the 30-59 age group remained unchanged from May 4. per hundred, NBS figures showed on Wednesday.
“The overall employment situation remained stable in the first half of the year,” said Wang Pingping, director of population and employment statistics at the NBS, as the broad urban unemployment rate of 5 percent in June was unchanged from two months ago. previous.
“However, it is important to note that there is both pressure on the overall volume of employment and structural conflicts. Ensuring stable employment still faces certain challenges,” Wang warned on Monday ahead of Wednesday’s data release.
In June last year, the unemployment rate for 16-24-year-olds hit a record 21.3 percent, weighing heavily on Beijing’s post-pandemic recovery efforts.
Authorities in August halted monthly data releases to recalibrate how the rate was calculated. After no figures were released for July-November, a newly calibrated rate of 14.9 percent was announced for December.
The rate revision was made to “more accurately reflect the employment and unemployment status of young people who need a job after graduation,” said NBS director Kang Yi.
President Xi Jinping called employment a “most fundamental livelihood concern” after a Politburo study session in late May and pledged to make youth employment a top policy priority, noting that employment for university graduates was extremely Important.
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China’s youth are abandoning consumerism in favor of fulfilling experiences
China’s youth are abandoning consumerism in favor of fulfilling experiences
Last month, China unveiled sweeping initiatives, including subsidies for companies hiring college graduates and a scheme to create at least 1 million apprenticeship positions a year for young people by the end of 2025.
In May, the Ministry of Education also conducted a “100-day sprint” initiative to increase employment opportunities for graduates by organizing company visits and strengthening internship programs.
By the end of May, 2,524 universities had visited companies and explored employment opportunities, creating nearly 3.76 million new jobs, according to state media.
“In the next step, we should continue to strengthen the priority employment policy, improve the employment promotion mechanism for key groups such as graduates and migrant workers, actively cultivate new employment growth points and try to promote higher quality and fuller employment.” Wang said.
In the first half of this year, the urban broad unemployment rate averaged 5.1 percent, with a decrease of 0.1 percentage point from the first quarter and 0.2 percentage point from the same period last year, BKS pointed out.
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