Youth Joblessness Surges in China Amid Structural Contradiction in Employment
Growing Concerns Over Youth Joblessness in China
As China's economy grapples with increasing youth unemployment, the jobless rate for 16- to 24-year-olds reached 17.2% in July, continuing a troubling trend. The rising youth joblessness coincides with a record influx of 11.79 million tertiary graduates into the labor market. Analysts note that many graduates are significantly lowering salary expectations in light of prevailing economic constraints.
Insights from the National Bureau of Statistics
According to data from the National Bureau of Statistics, the jobless rate has seen a concerning uptick from 13.2% in the previous month, marking the end of a three-month decline. Premier Li Qiang emphasized the need for targeted measures to stabilize employment for vulnerable groups, including university graduates.
Challenges of Structural Contradiction
The ongoing structural contradiction presents a significant hurdle, as many young job seekers face persistent challenges despite the growing number of employment opportunities. As highlighted by NBS spokesperson Liu Aihua, the pressure remains evident, indicating that both job-seeking hurdles and recruitment difficulties are at play.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.