Youth unemployment in China surged to 18.8% in August, marking the highest rate recorded this year, as the country continues to grapple with a sluggish economy.
The unemployment rate for 16- to 24-year-olds not in education increased from 17.1% in July, according to the National Bureau of Statistics (NBS). This follows a peak of 21.3% in June 2023, before the government revised its methodology to exclude students.
The rise in joblessness is partly attributed to the 12 million students who graduated from Chinese universities in June, intensifying competition in an already challenging job market. President Xi Jinping has emphasized that addressing youth unemployment must be a “top priority.” The unemployment rate for 25- to 29-year-olds also rose to 6.9% in August, up from 6.5% in July.
These figures come amid broader concerns over the country’s economic performance, with recent reports showing weak retail sales and industrial production growth.
