China's youth unemployment at 18.4%

[East_coast]

The youth unemployment rate - for those aged between 16 and 24 - also rose to a record high of 18.4 per cent in May. Although I have seen figures suggest it is as high as 23%. G7 average for the same age group is about 10.5%

https://www.scmp.com/economy/china-e...gtype=homepage

[shri]

Problem fixed in today's data release.

Excluding people still in school, the unemployment rate for young people aged 16 to 24 was 14.9%, while the rate in cities in December was 5.1%.

The bureau had temporarily suspended the release of the younger age group’s unemployment rate in summer, citing the need to reassess calculation methods. That unemployment rate had previously climbed to records above 20%.

https://www.cnbc.com/2024/01/17/chin...ment-data.html

[bdw]

Population is decreasing at an alarming rate now too.

https://www.news.com.au/finance/econ...9f65a3fc6ffe50

[RobRoy]

Problem fixed in today's data release.



https://www.cnbc.com/2024/01/17/chin...ment-data.html

Good to see patriotic calculus implemented. Gold stars are currently being distributed to the department.

[MABinPengChau]

Good to see patriotic calculus implemented. Gold stars are currently being distributed to the department.

I feel like these people could just be going out to the fields and working for 100 percent employment! Like president Xi told them to do last year!


https://www.wsj.com/world/china/chin...yside-075bbd46

[hullexile]

Population is decreasing at an alarming rate now too.

https://www.news.com.au/finance/econ...9f65a3fc6ffe50

Not sure 0.14% Per year is alarming. If that carried on for the next 200 years there would still be a billion.

[bdw]

Not sure 0.14% Per year is alarming. If that carried on for the next 200 years there would still be a billion.

True. But I guess the concern is that it might well decrease exponentially over next few years? eg they lost 850k in 2022, 2m in 2023, so project that forward could mean losing 4.6m in 2024, 10m in 2025, etc. But yeah, its a big if. Also not a problem unique to China, also Japan, Korea, Italy etc with the same issues.

I also dont really understand if there are not enough young people, then why are there so many young people unemployed? I guess we shouldnt try too hard to make sense out of numbers coming out of China.

[paddylast]

Yeah population patterns tend to snowball and very difficult to reverse.

[East_coast]

Yeah population patterns tend to snowball and very difficult to reverse.

[lighthse003]

In Shenzhen and Dongguan, the local youths are rich or parents are business owners so don't care about unemployment.