China wants to create 11 million new jobs this year to cap the surveyed urban unemployment rate at around 5.5 per cent and registered unemployment rate within 4.5 per cent. Photo: AFP

China’s middle class stress over debt payments as unemployment hits two-year high

  • China’s unemployment rate jumped to 5.3 per cent in January and February from 4.9 per cent in December, the highest level in two years
  • Household debt, which includes mortgage and credit cards, now makes up 52 per cent of China’s gross domestic product
Topic |   China economy

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China wants to create 11 million new jobs this year to cap the surveyed urban unemployment rate at around 5.5 per cent and registered unemployment rate within 4.5 per cent. Photo: AFP
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