China's youth unemployment rate rises for first time since February

(MENAFN) China's Bureau of Labor Statistics reported a rise in the youth unemployment rate for the first time since February, adding new challenges for policymakers aiming to improve job prospects for younger generations. The unemployment rate for individuals aged 16 to 24 climbed to 17.1 percent in July, up significantly from 13.2 percent in June. This increase reflects the growing difficulty young people face in finding employment amidst a competitive job market.

The rise in youth unemployment is partly attributed to the graduation season, which saw approximately 11.8 million new graduates enter the workforce this year, marking a 2 percent increase from 2023. The influx of new job seekers has put additional pressure on an already strained labor market, highlighting the need for effective policies to address the employment challenges faced by young people.

In addition to the surge in youth unemployment, the overall urban unemployment rate also rose to 5.2 percent in July, up from 5.0 percent in June. This broader increase indicates a wider issue within the labor market, underscoring the urgency for targeted interventions to support both young job seekers and the overall employment landscape. 

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