China’s unemployment rate for those aged 16 to 24 was 13.1% as of February, above the national urban jobless rate of 5.5%, according to the National Bureau of Statistics press release. The 13.1% young people’s unemployment rate is similar to that during the first quarter of last year, the height of the coronavirus outbreak.
The high unemployment rate in China offers a continuous challenge from underemployment and pressure on the job market.
This year, a record 9.09 million students in China are expected to enter the workforce, surpassing last year’s record of 8.74 million.
Even before the coronavirus pandemic, China’s number of new urban jobs fell to 13.52 million in 2019, down from 13.61 million in 2018.
Last year, China created just 11.86 million new urban jobs and aims to generate 11 million this year.
Chinese Premier Li Keqiang said there is “mounting pressure” on ensuring people have jobs
China set a conservative growth target of over 6% this year, up from 2.3% growth last year, and unemployment rate of 5.5%
