As China’s economy continues to struggle, with businesses reducing hiring and the job market deteriorating, the youth unemployment rate keeps climbing. The latest official data from the Chinese Communist Party shows that in July, the youth unemployment rate has surged to 17.1%, reaching the highest level this year so far.
On August 16th, the National Bureau of Statistics of the Chinese Communist Party released data indicating that in July, the unemployment rate for the 16-24 age group in urban areas, excluding students, rose to 17.1%. This marked a 3.9 percentage point increase from the previous month’s 13.2% and set the highest level since the announcement of youth unemployment rates resumed in January this year.
After the youth unemployment rate for the 16-24 age group rose to 21.3% in June of last year, the authorities ceased releasing that data. Starting from January this year, the statistics bureau adjusted its criteria, excluding students from the unemployment rate figures, and divided the age group of 25 to 59 into two categories, then commenced publicizing youth unemployment rate data again.
The statistics bureau data also reveals that the unemployment rate for the 25-29 age group, excluding students, stands at 6.5%, an increase of 0.1 percentage point from June. Meanwhile, the unemployment rate for the 30-59 age group, excluding students, is 3.9%, a decrease of 0.1 percentage point from June.
In July, the national urban survey unemployment rate rose to 5.2%, reaching a new high in four months with an increase of 0.2 percentage point from June. The survey unemployment rate in 31 major cities climbed to 5.3%, the highest since August last year, experiencing a rise of 0.4 percentage point from June.
However, the Chinese official data is often known to conceal unfavorable conditions, implying that the actual situation may be even worse. People in mainland China have expressed doubts about this data.
“If the National Bureau of Statistics continues like this, no one will believe any of their data in the future.”
“Do you believe it now?”
“Such statistical data is not very meaningful!”
“The key is how to define ‘unemployment’.”
“Isn’t flexible employment not considered unemployment, right?”
“We need to ensure the data next year is well done since there will likely be more unemployed people next year.”
“This kind of data is as seriously distorted as the daily reported COVID-19 case numbers.”