China resumed the release of its youth jobless rate on Wednesday after a nearly half-year suspension.
The jobless rate for 16 to 24 age group stood at 14.9 per cent in December, according to the National Bureau of Statistics (NBS), but the figure does not include those who are in school.
The exclusion would “more accurately reflect the employment and unemployment status of the youth who are in need of a job after graduation, and the whole picture of employment and unemployment of the youth from their graduation to stable work,” the NBS said.
Those that are in schools in China are there to study, and finding a job is not a priority, according to NBS director Kang Yi.
“If school students are included in the [16-24] age group, young people looking for part-time jobs at school and young people looking for jobs after graduation will be mixed together, which will not accurately reflect the employment and unemployment situation of young people who enter society and really need to work,” Kang said in a press conference on Wednesday.
In 2023, among China’s urban population aged 16 to 24, school students accounted for more than 60 per cent, which is nearly 62 million people, while non-school students would have accounted for more than 30 per cent, about 34 million people, he added.
Amid job market woes, China to add another 11.8 million graduates to workforce
Amid job market woes, China to add another 11.8 million graduates to workforce
The jobless rate for the 25-29 age group has also been added to better reflect employment situation of the country’s graduates.
“Most young people have just graduated at the age of 24 and are still in the career-selection period. Some people are not employed nor have unstable employment. By the age of 29, the vast majority of them are over the job-seeking period and their employment situation tends to be stable,” the statistics bureau chief said.
China is under pressure to create new jobs amid a set of headwinds that are hampering its economic recovery.
As China’s population ages, a high youth-jobless rate may slow down potential future growth, as well as put pressure on social stability – a key concern for the Chinese government.
Overall, China’s urban-unemployment rate in December was 5.1 per cent, well below the full-year control target of 5.5 per cent.
More to follow …
