What to do about record youth unemployment? Stop telling anyone about it, China decides.
HONG KONG — Chinese officials announced Tuesday that they would temporarily stop publishing the youth unemployment rate, which has reached record highs in recent months, saying the way it is calculated needs refinement.
Youth unemployment is just one of the problems facing China, the world’s second-largest economy after the United States, as it recovers more slowly than expected from three years of pandemic isolation. The urban unemployment rate for people ages 16 to 24 has ratcheted up steadily from month to month this year, hitting a record 21.3% in June — four times the overall jobless figure.
The employment situation among college graduates in China is “generally stable,” Fu Linghui, spokesperson for the National Bureau of Statistics, said at a news conference in Beijing.
“Most university graduates have already confirmed their employment destination,” he said, adding that the graduate employment rate is “slightly higher” than the same period last year.
https://www.msn.com/en-us/news/world/china-facing-record-youth-unemployment-says-it-will-stop-releasing-data-on-it/ar-AA1fiedq
