China youth unemployment: Beijing admits structural issues as country produces record college graduates

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More than one in five of the roughly 100 million Chinese aged 16 to 24 were unemployed in June 2023

China youth unemployment: Beijing admits structural issues as country produces record college graduatesChina youth unemployment: Beijing admits structural issues as country produces record college graduatesBEIJING – China still faces structural employment issues and overall pressure on jobs has not eased, the human resources minister said on Saturday, as the slowing economy braces for another record number of college graduates in 2024.

At the start of the parliament session this week, the government unveiled its 2024 target for economic growth, aiming for an expansion of "around 5 per cent". China's gross domestic product grew 5.2pc last year. Beijing resumed publication of the data in January, but it now excludes Chinese college students, and put youth unemployment at 14.9pc in December.Authorities are under pressure to create enough jobs, particularly as ever more college graduates chase a shrinking pool of white-collar jobs in a weak economy after the COVID19 pandemic.

 

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