Advertisement
China jobs
EconomyEconomic Indicators

China’s youth unemployment rate edges down in May as economic strains persist

Those aged 16 to 24 are still struggling to catch a break in the job hunt, a trend worsened by external wars and geopolitical strife

2-MIN READ2-MIN
1
Listen
People line up at career-guidance booths during a job fair in Beijing on March 14. Photo: Reuters
Xinyi Wuin Beijing

China’s youth jobless rate inched down in May but remained at a higher point than last year, as the war in Iran weighed on domestic business confidence and an already soft job market.

The jobless rate for the 16-to-24 age group, excluding students, fell to 15.6 per cent in May from 16.3 per cent in April, according to data released by the National Bureau of Statistics on Monday. The reading was higher than the 14.9 per cent recorded in the same month last year.
While a deal with Iran has been announced to reopen the Strait of Hormuz and end the US naval blockade after nearly four months of hostilities, the US-Israel war on Iran has already dented the confidence of Chinese businesses with disruptions to shipping lanes and higher commodity prices.
Advertisement
Chinese companies have been feeling the strain, with producer inflation hitting a nearly four-year high in May. The external pressures are further depressing a weak labour market, where a large cohort of college graduates is already struggling to find work.

Pallave Ji, who graduated with a degree in cultural-industry management last year, quit her job at a major Chinese technology company in April after becoming overwhelmed by workplace conflicts and a stressful environment, she said.

Advertisement

She is now casting a wide net across various industries in the Beijing, Tianjin and Hebei regions. But despite her corporate experience, she has found securing a new role even more difficult than during her initial job search as a fresh graduate last year.

Advertisement
Select Voice
Select Speed
1.00x